Currency Accounts

pfoomer

New Member
Hi

I am new to this product, having just migrated from i******** and I must say I am
impressed, especially by the reporting functions.

However!!, I have multiple currency accounts, and please bear with me as I explain
my problem (or lack of understanding)

I transferred some GBP to EUR, I did this from the GBP account, entered the exchange rate,
and confirmed the conversion.

Then I went to the EUR account, but the entry is in GBP.

Ok, not too much of a problem.

Now I wanted to transfer from the EUR account to another EUR account, but its still showing in GBP.

Surely if I am in a EUR account (or USD or whatever), then the transactions should show the correct currency.

The EUR accounts are set up with the correct currencies

I have read the stuff on the web page, but either i am thick, or, I am missing something here?

Thanks

Peresphone
 

pfoomer

New Member
Hi

yes I have, however, as I am in a euro account, transferring euro's to another euro account, why isn't the balance shown in, well euro's?

Even doing a query using a euro based account, shows the balance in pounds.
 

pfoomer

New Member
stanbusk said:
Do you mean both the origin and target accounts are Euro accounts?
Yes, both are euro, but the first one was credited from a GBP account, with the conversion factor, destination euro.

To clarify, I am in euro account A, looking at two transactions.

1. T/F 5000 GBP at 1.5 = 7500, show 5000 GBP

2 T/F 100 euro to euro account B, shows 100 euro (good)

surely if I am looking at the transactions in a particular account (ie euro), everything should be in that currency( euro)

The system appears to assume, for each transaction, the currency of the source account.
 

stanbusk

Administrator
Staff member
The system appears to assume, for each transaction, the currency of the source account.
Absolutely! The currency of a transaction in iCash is always the currency of the origin account.
 

pfoomer

New Member
Current Accounts

stanbusk said:
The system appears to assume, for each transaction, the currency of the source account.
Absolutely! The currency of a transaction in iCash is always the currency of the origin account.
Is there some reason for this, surely if I am working within a euro account I want to see all the entries in euro's?
 

stanbusk

Administrator
Staff member
We decided to do it that way. In other words, when you are working on a transaction, you use two accounts. The origin account currency is always the transaction currency. Why? Because there are 99% chances the origin account will be a bank account and when you deal with a bank account, transactions are in that account currency.
 
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