Using different currencies

egravenb

New Member
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
 

egravenb

New Member
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

Administrator
Staff member
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

New Member
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

Administrator
Staff member
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

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

stanbusk

Administrator
Staff member
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

New Member
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!
 
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