Multi currency

[Quentin Pain]

Personal Accountz operates on a single currency platform however if you would like to use multiple currencies, we would welcome your recommendations for the simplest way to implement this.

NOTES: This has been added as a votable upgrade because we need to measure its priority in relation to the other suggestions.

Personal Accountz is, and always will be, a work in progress. Our aim is to implement everything in this wish list provided it does not impair other aspects of the software or violate software patents. To this end we are supporters of the FFI (link below) who oppose patents on ideas and thus help keep innovation alive.
http://www.ffii.org/

[Quentin Pain]

Here is how to account for multi-currency at the moment. There are 2 choices:

1. Include foreign currency accounts with your other accounts. There are 2 things to be aware of:
a) Make sure you do not group them with your other accounts because the balances are not consolidated into a single currency
b) If you also want to analyse income and expenditure on those accounts, you will need to create a separate set of income and expense accounts.

An alternative to b) is to create a 'cash' account and make 2 entries to transfer the total spent or received from the foreign currency into the base currency, then use that cash account to record the income and expense in your base currency. Use the comments field to record the exchange rate if you like.

2. Open a separate file for each currency.

[rodhead]

I do think that at a duel currency facility: ie GBP + Euro would enhance an otherwise excellent accounts programme. I await further developments with interest.

Rod Head

[michael@wengam]

I keep one set of PAZ books in dollars and one set in pounds, then use CSV exports and Excel workbooks/worksheets to combine the results.

The simplest thing is to export an annual report from both to CSV and combine the results in Excel, where you can do the currency conversion (I use a single exchange rate for the year).

I have also done it where I export all entries from both sets of books, and bring them in as separate worksheets in Excel. You can then add a column to either sheet to represent the other currency, then make a third worksheet for the combined entries in a single currency (assuming one exchange rate for whole year) or use a pivot table. This is much more difficult and time consuming. I don't really need the extra detail of seeing individual entries at this stage.

[RobC]

I was living in hope that something would be underway by now with Multiple Currency. As an ex user of MS Money, which handled any currency, I am most disappointed in what I thought would be a replacement piece of software.

I am not in business but most weeks I am using Euros for one reason or another and I have found that a home produce SS works for me in the short term.

I really do feel that Personal Accountz must move with the times and include at least Euros as a second currency. It is the future whether we like it or not!

RobC

[John Wood]

I think I may have made a mistake! I have just purchased ACCOUNTZ, which looked like an ideal replacement for my old - now obselete - Microsoft Money. I now find that it does not have a multi currency facility. I live in Spain and have bank accounts, investments and expenditure in both Euros and Sterling. Microsoft Money handles all this neatly, presenting reports in Sterling which is my base currency.

I see you have an adaption for your business programs.

I feel it is most important that you investigate the posibility of incorporating currency option (even if it's just Euros and Sterling) into your home accounting program.

Regards..

[Kate]

Please see this link: viewtopic.php?f=1&t=548

[Mart_477]

I agree - multi currency option is an important add - in these days of trans-border purchases via internet and multiple accounts it is becoming a necessity - it was a really good feature in MS Money and well implemented.

Any news on when you might implement this?

[davidkcowie]

I have added my vote to request multi-currency.

Define a certain account as different currency.
Allow/trigger on the fly rate conversion when posting between different currency accounts.
Allow for updated exchange rates for viewing at the Balance/Net Worth level.

I would suggest multi-currency would launch your product on a global level !

thanks
David

[devondad93]

It depends on me if I could use single and multiple currency. Because multiple currencies are used mainly in the area of online commerce. People who aren't so comfortable dealing with buying things online are going to have a not so easy time dealing with micro payments. But most fears about technology and progress tend to be unfounded.

[url=http://www.computerseo.com]www.computerseo.com[/url]