Settlement in different currency

[harry_p]

I am using version 7 and would upgrade if this issue is resolved.

My broker settles all trades in dollars but I own some Euro quoted shares.

Entering trades and dividend becomes difficult because I have to edit the days exchange rate before entering the transaction so that it gets converted correctly.

It would be useful to allow me to either specify the exchange rate for the transaction or enter the transaction as $ so that the cash account reconciles.

[Mark]

Hi harry_p,

There are probably some different options you can use to deal with this. Here are some ideas:

1) Do not use a default cash account, and manually record both sides of the transaction, the Euro buy/dividend and then the USD cash deposit/withdrawal.

2) Set up 2 sub-portfolios, one for each currency. Have a default cash account for each, one in Euro, and one in USD. When you have a Euro transaction, the Euro cash will be debited/credited, without the need for an exchange rate. You would then need to zero out the Euro cash, since that is what your broker is doing. Buy/sell Euro and sell/buy the appropriate amount of USD.

Version 11 does not allow you to specify an exchange rate, and you must still record the transactions in the currency assigned to that investment.

[harry_p]

Thanks, any chance of this feature being added?

Just allow users to choose a cash account for settlement, if its a different currency prompt for the converted amount.

Simply add a field to the database transaction table for the 'actual spot rate' then when reports are run it uses this spot rate (unless blank then it uses the normal currency price).

It would also make transfers between different currency accounts easier.

PS: Depending how the reporting is calculated the stored 'actual spot price' may have to be set to the base currency exchange rate.

[Mark]

Hi harry_p,

Thanks for the ideas. This is definitely possible, but it isn't trivial for us either. We will definitely consider it for a future update.