When I run a profit and loss report (general ledger detail level) in my default currency - UAE dirhams the subtotal doesn't properly reflect payments made in USDollars. Example:

I paid travel expenses of dirham 10,000 and USDollar 5,000. Instead of converting USD5,000 into dirham 18,350 for a total of dirham 28,350 the report shows travel expenses of 15,000. I get the same total travel expenses of 15,000 even when I run a summarized report that doesn't show that some of the payments were not in the default currency.

Please help! I am very confused and frustrated!

The previous forum entry is for the same issue and includes the solution.

Thanks, but where do I find the previous posting?

http://maxprog.com/forum/viewtopic.php?f=4&t=5981

The problem is all about the default currency, in the account manager all the accounts using the default currency should display 'Default' in the currency column and not a currency symbol.

I went to account manager and all accounts were in default except the two cash accounts that showed USD and EURO. Can you supply further help?

Have you been in the currency panel? Have you set the default currency and updated all rates?

It fixed it when I went to currency and updated. But i'm curious - when I log in I see a message that says updating currencies. Why do I have to do it manually?

In there iCash preferences, second panel, there is a setting to make iCash to update rates at launch.