Using different currencies

[egravenb]

I use different currencies when using my credit cards on travel and for Internet purchases.
My default currency is in Euros, hence when purchasing an item in e.g. US$ I don't have the option of setting the exchange rate in the transaction window.
Should I calculate the cost in Euro's myself or is there a more intelligent solutution to register these US$ purchases. Pls advice

 

[stanbusk]

Currencies are explained here: How iCash applies currencies and rates?. Let me know if you have problems with that.

 

[egravenb]

I came across the article http://www.maxprog.com/site/support/us/ ... howto.html on the forum few times searching for a solution of my problem, and although it's an interesting tip I failed to see how it should help to solve my problem.
I perfectly understand the differences between flow account and an asset account when dealing with currencies and rates, the problem is that the application doesn't allow a user to charge the card with different currencies (a.f.a.i.k)....unless the default currency is US$, which is not the case for me. Therefore having Euros (€) as the default currency iCASH won't display the option of setting the exchange rate in the transaction window.

cheers...erwin

 

[stanbusk]

iCash enables the rate fields in the transaction entry panel when the origin and target account have different currencies, Default/EUR, EUR/Default,USD/EUR, CAD/Default... In your case can you tell me what is the currencies of the origin and target accounts?

 

[egravenb]

As an example:
The currency of the origin (AMEX credit card) is Euro, the currency of the target account (purchase thru the internet in the US) is inUS$,
hth

 

[stanbusk]

I have tried here right now. I create a EUR account and a USD account. I then try to enter a transaction, the rate fields get enabled as expected. I can enter the rates and enter the transaction.

 

[egravenb]

It works for all currencies but Euros, I guess I have to do the conversion manually or try the US version of iCASH.

 

[stanbusk]

It works for me for all currencies here. Actually there is no differences between EUR and USD in the software, it is just one more currency record. They are all treated the same way. But if your default currency is EUR, just set your account as 'Default'.

 

[egravenb]

I must have done something basically wrong, after uninstalling and re-installing iCASH, I set up new accounts with matching currencies(Default, US$, £ etc) it all works like a charm. Not sure if and how I could have reset the currencies, but it works now.
Thanks for the swift responses!