Can gains/return on foreign cash transactions be tracked in Quicken?

Can gains/return on foreign cash transactions be tracked in Quicken?

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited January 17
    I don't see why not.  At it's heart, Quicken is an accounting program and if you know how to account for these sorts of transactions you should be able to make an appropriate entry, perhaps having the gains or losses going to a Category that you create for the situation.
    Perhaps if you post the details of a real transaction someone could create the accounting entry for that transaction. 
    To make up a situation, if I bought something from France and the vendor quoted X amount of francs which, at that time, translated into $500, I might post that amount as the cost, with the offset to some sort of liability Account.  But if when I actually remitted francs the exchange rate moved such that I only had to exchange $450, I'd clear that liability Account with the $450 and an additional entry of $50 with the offset to that entry some Category like "Gain on Exchange" or something.
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