You need to ensure Moneydance has exchange rates for the currencies you are using for things to work.
For example click TOOLS – CURRENCIES highlight and double click US DOLLARS.
In my case my base currency is BRITISH POUNDS and thus the exchange rate window for US DOLLARS is as the screen shot. I only need up to date exchange rates at the end of the month when I update my securities, hence the date gaps in the table.
You may need a new exchange rate each day.
You can install an extension to update exchange rate rather than enter them manually if you prefer.
A bit about entering a foreign currency transaction.
You need first to set up categories in the foreign currency. TOOL – CATEGORIES – NEW.
Now when you want to enter a transaction for a category in that foreign currency select the appropriate category. You will now notice that the Rate and Foreign Amt fields are open for you to use.
Assuming that the exchange rate for the foreign currency is available under TOOLS – CURRENCIES the RATE value will file in. Enter the Payment or Deposit amount (for credit cards Charge or Payment) in the base currency and the Foreign amount will fill in. You can change the Rate if required. Instead you can enter the Payment or Deposit amount (for credit cards Charge or Payment) in the base currency and the Foreign amount and the Rate will change accordingly. You can’t enter the Foreign Amt as there is only one field so you are not able to define it as a Payment or Deposit amount (for credit cards Charge or Payment).
You can also set up foreign currency accounts.
When you enter a value into a non-base currency account it uses the exchange rate for the same date, then rounds the result (foreign amt) and recalculates the exchange rate based on the rounded value to file in the rate.
I am doing exactly what you suggested. The exchange rate table is updated
daily but still any transaction in currency other than the base currency
the currency rate is not picked up from the table. I use INR as base
currency AN ENTRY from an AED account gets converted to INR at a
standard rate of 18.31 to the AED where as the rate table shows rates
varying daily from 19.36 TO 22.30 .This caused the variance in the base
I will follow your suggestion of manually entering the days exchange rate.
Tks for suggestion