(Canadian

QPW said:Well you aren't going to like the answer.
The answer is that Quicken always uses the latest currency exchange rates in reports that have mixed currencies.
This actually gets pretty complicated. There is in fact no way even if currency exchange rates are fully supported to "properly" use the number you put in, because of fact that even though that transaction might have had that exchange rate, the report is for at min for a day. So it would vary all during the day and they would have to just pick the "day exchange rate".
But in Quicken it is worse than that in that it doesn't even use the daily exchange rate even if it is available.
At one time the users in the US thought this was only a US version problem because in the US version Quicken doesn't even keep a history of the exchange rates, so the only one it has this latest one, and it uses that for everything.
The Canadian version of Quicken does record the history of the exchange rates, but as I found out when I did a beta of Quicken 2017 (I'm in the US and I was just interested in this kind of thing), it doesn't use it.
[the] fact that even though that transaction might have had that exchange rate, the report is for at min for a day. So it would vary all during the day and they would have to just pick the "day exchange rate".@QPW To implement this correctly, I do not think it is necessary to use the day exchange rate if a conversion rate is available at the transaction level. The program simply needs to use a "day conversion rate" when one is NOT available at the transaction level.
"@QPW To implement this correctly, I do not think it is necessary to useQPW said:Well you aren't going to like the answer.
The answer is that Quicken always uses the latest currency exchange rates in reports that have mixed currencies.
This actually gets pretty complicated. There is in fact no way even if currency exchange rates are fully supported to "properly" use the number you put in, because of fact that even though that transaction might have had that exchange rate, the report is for at min for a day. So it would vary all during the day and they would have to just pick the "day exchange rate".
But in Quicken it is worse than that in that it doesn't even use the daily exchange rate even if it is available.
At one time the users in the US thought this was only a US version problem because in the US version Quicken doesn't even keep a history of the exchange rates, so the only one it has this latest one, and it uses that for everything.
The Canadian version of Quicken does record the history of the exchange rates, but as I found out when I did a beta of Quicken 2017 (I'm in the US and I was just interested in this kind of thing), it doesn't use it.
Yes, you are correct. I did not mean to do a deep dive. But I believe these kinds of issues can be resolved and programmed to handle them. For your example, a Net Worth report only does make sense using the latest available exchange rate. User can be prompted to allow Quicken to get latest info or use what is already stored.QPW said:Well you aren't going to like the answer.
The answer is that Quicken always uses the latest currency exchange rates in reports that have mixed currencies.
This actually gets pretty complicated. There is in fact no way even if currency exchange rates are fully supported to "properly" use the number you put in, because of fact that even though that transaction might have had that exchange rate, the report is for at min for a day. So it would vary all during the day and they would have to just pick the "day exchange rate".
But in Quicken it is worse than that in that it doesn't even use the daily exchange rate even if it is available.
At one time the users in the US thought this was only a US version problem because in the US version Quicken doesn't even keep a history of the exchange rates, so the only one it has this latest one, and it uses that for everything.
The Canadian version of Quicken does record the history of the exchange rates, but as I found out when I did a beta of Quicken 2017 (I'm in the US and I was just interested in this kind of thing), it doesn't use it.
BTW, I know that other PFM software have some kind of multi-currency capabilities. I wonder how they have tackled these issues, e.g. MS Money (Win), iBank/Banktivity (Mac), MoneyDance (Mac) ? from light perusal it seems users of those capabilities have been satisfied, but I could be wrong.QPW said:Well you aren't going to like the answer.
The answer is that Quicken always uses the latest currency exchange rates in reports that have mixed currencies.
This actually gets pretty complicated. There is in fact no way even if currency exchange rates are fully supported to "properly" use the number you put in, because of fact that even though that transaction might have had that exchange rate, the report is for at min for a day. So it would vary all during the day and they would have to just pick the "day exchange rate".
But in Quicken it is worse than that in that it doesn't even use the daily exchange rate even if it is available.
At one time the users in the US thought this was only a US version problem because in the US version Quicken doesn't even keep a history of the exchange rates, so the only one it has this latest one, and it uses that for everything.
The Canadian version of Quicken does record the history of the exchange rates, but as I found out when I did a beta of Quicken 2017 (I'm in the US and I was just interested in this kind of thing), it doesn't use it.
"a Net Worth report only does make sense using the latest available exchange rate."QPW said:Well you aren't going to like the answer.
The answer is that Quicken always uses the latest currency exchange rates in reports that have mixed currencies.
This actually gets pretty complicated. There is in fact no way even if currency exchange rates are fully supported to "properly" use the number you put in, because of fact that even though that transaction might have had that exchange rate, the report is for at min for a day. So it would vary all during the day and they would have to just pick the "day exchange rate".
But in Quicken it is worse than that in that it doesn't even use the daily exchange rate even if it is available.
At one time the users in the US thought this was only a US version problem because in the US version Quicken doesn't even keep a history of the exchange rates, so the only one it has this latest one, and it uses that for everything.
The Canadian version of Quicken does record the history of the exchange rates, but as I found out when I did a beta of Quicken 2017 (I'm in the US and I was just interested in this kind of thing), it doesn't use it.