Currency Transfer from CAD Cash to USD Cash

[cricketbunty]

Hi Mark
What is the best way to record a Cash transfer from a CAD account to a USD account? The Transfer between does not work.

thanks

[Mark]

Hi crecketbunty,

Record a sell of CAD cash, and a buy of USD cash...

[cricketbunty]

thanks Mark
If i use the method suggested, then how do I reflect FX impact on my portfolio returns? My base currency is CAD. I need to be able to track how much CAD I paid for my USD purchases?

thx

[Mark]

Hi,

Your CAD cash should be assigned to the CAD currency, and your USD cash should be assigned to the USD currency. Make sure you set up your exchange rates and currencies under "Options / Currency Settings...".

If you transfer 800 USD for 700 CAD, record a sell in USD cash for 800 shares at a price of 1 USD. Record a buy in CAD cash for 700 shares at a price of 1 CAD.

For more on using multiple currencies in Fund Manager, please see this tutorial.