Cash accounts in any currency

[weitau]

Is it possible to keep cash accounts in different currencies? For example, I might have a Yen account with a Japanese brokerage firm, and their default currency is Yen. The cash account is in Yen.

Specifically, I'd like to use FM to track my investments in equities, options, and cryptocurrencies. The challenge is when I use USD to buy Bitcoin, and then use the Bitcoin to buy Litecoin, then use the Litecoin to buy USD. This is similar to traditional currencies as well, where you use USD to buy Euros, then trade the Euros for Pound Sterling, and then trade for USD.

[Mark]

Hi weitau,

Yes, you can have as many different cash accounts as you want. If you're manually recording transactions you will be prompted with which one to use. If you want to utilize the default cash account feature you'd need to create a separate sub-portfolio for each currency, and place the investments of that currency, and the cash for that currency in there. Assign each sub-portfolio to its own default cash account.

[weitau]

Thank you. I'll give it a try.

[weitau]

Thanks, this worked well.

Another question is what the the maximum number of decimal places that I can have in a Price field? It seems to be 6, but I need at least 8.

[Mark]

Hi weitau,

Internally, prices are stored as double precision floating point numbers. So, you can enter more than 6 places past the decimal. The actual number depends on the number of digits before the decimal. However, you can only view up to 6 places. With the advent of cryptocurrencies we may increase this to 8, but for now the limit of viewing is 6. Any calculations are done with the full precision value stored internally.

[weitau]

That's good to know Mark.

I've been working on a Libor replacement project and we need to keep accuracy past 16 decimals places. Floating point number cause round errors, so we are using a MySQL numeric type. https://zetcode.com/mysql/datatypes/#:~ ... %20enabled.

I doubt you are using MySQL, but your database engine may offer something similar.

Cryptocurrency accounting is incredibly challenging though. For that reason, typical SAAS subscription fees exceed $170 annually for a typical user.

[Mark]

We store prices using double floating point numbers (type double in C++). We don't use a database, but write data to binary data files.

[weitau]

No wonder your software is so fast, doesn't require .NET bloatware, and complicated installs. Very good!