tracking Euro denominated investments

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I haven't been able to find a clear (to me) explanation in this message board or in the tutorialof how to do what I need. I know that if Fund Manager does do what I need, I have to set up exchange rate investments -- but I don't understand how to do this, or use them.

Our tax adviser told me that to track my wife's European mutual fund investments (denominated in Euros), I need to book each transaction (purchases, sales, fees, etc.) and convert it to US$ at that day's exchange rate. Then as per the adviser's instructions I calculate the gains (losses) by the FIFO method. I have been doing this for several years now using a spreadsheet program, but it's very laborious, and I'm looking for a program (like Fund Manager, I hope) that will do it. Ideally, for my wife's portfolio, I would like to toggle between US$ and Euro values, to see how performance compares in the two currencies (although for tax reporting purposes we are only using dollars).

Can you explain for a somewhat software-phobic potential customer the steps required to do this? Maybe all I need is Fund Manager for Dummies -- but unfortunately you haven't published it yet.

Replies:

• Re: tracking Euro denominated investments Mark 12:33:06 06/07/05 (0)