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US dollar conversion to Canadian dollar factor

I have created a US dollar chequing and a credit card account.. When I include those accounts in my banking summary, the amounts are automatically converted from US funds to Canadian funds. The conversion factor used is wrong. Where in the program do I go to change the factor?

Best Answer

  • YingDave
    YingDave Member ✭✭✭✭
    Accepted Answer
    Jan, @Chris_QPW is correct. Based on your info you must be using the US version. The US Version does not maintain historical exchange rates, it only maintains the current exchange rate therefore does not have this button. The Ctrl+Q / menu still applies though. This is where your conversion is. Look for the US/CA entry highlight and hit edit to adjust it to what you think the exchange rate should be.

Answers

  • YingDave
    YingDave Member ✭✭✭✭
    edited February 6
    The Currency List Ctrl+Q. Look for the US Dollar entry. It gets Updated automatically when you sync. Otherwise in the Canadian version of Quicken hit "Historical Prices' button an you can change or update the rate on the date you wish. The rate you update directly will stay as long as you do not overwrite it again by hitting 'Import' which updates historical prices. These are the rates used in the report creation.
  • Jan Finlay
    Jan Finlay Member ✭✭
    Hi Dave: Thanks for the speedy reply. I failed to mention that I am using the Canadian download version R31.12, Quicken Home, Business and Rental Property. I can't find the "Historical Prices" button. Help directs me to information on downloading historical  investment information which is a feature I don't use. Where else should I look for the Historical Prices button? 
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I failed to mention that I am using the Canadian download version R31.12, Quicken Home, Business and Rental Property.
    There is no such thing.  The Canadian version is at R28.15.  You are using the US version.  The US version has less multiple currency support than the Canadian version. It has no currency exchange rate history, only the current exchange rate.
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  • YingDave
    YingDave Member ✭✭✭✭
    Accepted Answer
    Jan, @Chris_QPW is correct. Based on your info you must be using the US version. The US Version does not maintain historical exchange rates, it only maintains the current exchange rate therefore does not have this button. The Ctrl+Q / menu still applies though. This is where your conversion is. Look for the US/CA entry highlight and hit edit to adjust it to what you think the exchange rate should be.

  • Jan Finlay
    Jan Finlay Member ✭✭
    @YingDaveand @Chris_QPW, thank you both for your help. Much appreciated. I contacted Quicken today and am now working in a Canadian version. The Ctrl+Q opens the currency chart and I can see how to adjust it. Again, thanks for your help and speedy responses.  Jan
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