Currency Configuration: Resolving Total Value Discrepancies in Multi-Account Summaries
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Jeff Calixte
It would be great if we could set up the currency type for each account. Currently, I have two types of accounts: one in USD and another in CAD. However, on the summary page, the total value is not accurate due to the different currency types of the US and Canadian accounts. It would be helpful to have the ability to specify the currency for each account to ensure accurate calculations.
Shawn Cao
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Shawn Cao
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Shawn Cao
Hi Jeff - thank you for mentioning this issue. Currency info is already available for each transaction.
We just haven't had a clear thought how to use it yet.
For example, do you want to set a exchange rate to convert them all to USD as a single number in report?
Or different currency items should never sum up together? which means we will need to support multi-currency display everywhere.
Please share your thoughts!
Jake Valentine
Shawn Cao: In my experience the former,
I would be happy / comfortable running you through how my canadian banking works on zoom (unrecorded) if need be as a canadian
- having the ability to toggle and automatically convert between USD / CAD the state of my accounts in real time would be great
- having the ability to see CAD on Hand or USD on Hand would be great too as I settle payroll in CAD but Bill in USD
Shawn Cao
Jake Valentine: Jeff Calixte
Hey!
Now, we have our first solution on Fina to deal with multi-currencies, it's not comprehensive but very simple:
Choose a system currency and all account value or transaction value will be converted to that.
For example, if you have USD, CAD, Bitcoin, and choose EURO as system currency, everything will be converted and displayed in that currency with "real-time" exchange rate.
"System Currency" can be found in User Settings.
Please let me know if this mitigates the issue, or any feedback for more!
Jeff Calixte
Shawn Cao:
Yes, it fixes the issue. It's a nice integration, but it would be great if we could also address the currency type on the edit account. Nice feature! Thanks for the work!"
Shawn Cao
Jeff Calixte: Account level customization will be super cool, I believe we will get there one day.