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Multiple Currencies?

melcher

I'm running Quicken Classic R59.9 for Windows 10 - Canadian edition. Searching for help, it says Quicken will support multiple currencies in the same account. And that I can turn on multi-currency support in Preferences>Calendar and currency. When I go there it's just about calendar - no currency choices. Am I missing something? If this version of Quicken doesn't support multi-currencies, which one does?

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q_lurker

Quicken supports multiple currencies, but does not allow multiple currencies within a single account. Each account (and each investment security) must have one and only one currency assigned to it.

melcher

Thanks for that clarification. I'm still unsure why I don't see the multiple currency support choice in the Preferences menu.

Arctic Hare

If you are asking about multiple currencies in one account because you have an investment account that functions that way, you'll need to create two accounts in Quicken, one is CAD and one in USD. I've used this approach for years and it works fine.

q_lurker

Option should be under Preferences in this form:

What version of Quicken are you running (Starter, Deluxe, Premier, etc.)? May not be available in the entry level Starter version. I'm not sure about the options within the Canadian programs.

melcher

https://community.quicken.com/discussion/comment/20464359#Comment_20464359

I'm using Quicken Classic Deluxe Canada on Windows 10. The multi-currency option does not appear in the Preferences menu - see attached. Looks like this gets dropped in Canada.

Arctic Hare

https://community.quicken.com/discussion/comment/20464468#Comment_20464468

That is correct. The Canadian version is multi-currency by default. There is no setting to turn multi-currency on/off in the Canadian version. However, even the Canadian version does not support multiple currencies within an account. Each account must have a fixed currency. And, once you have one transaction in an account, you can no longer change the currency. Hence my comment about how to handle an multi-currency investment account.

I use Quicken Canadian Classic Business & Personnel, btw.

Chris_QPW

The Canadian version is multi-currency by default.

I might state it slightly differently. The Canadian version is in fact the US version with "some modifications". As such just to get CAD they had to force Quicken into multiple currency support, and that is why there isn't any preference for it in the Canadian version. Another side effect is that that in the Canadian version you can't select your home currency like you can in the "US version", it is forced to being CAD.

So, it is ironic that the Canadian version has the best multiple currency support (like being able to import QFX files in different currencies, whereas the US version will only import USD QFX files), but the "US version" can actually have its home currency to any currency, for instance CAD or the British Pound.

Arctic Hare

https://community.quicken.com/discussion/comment/20464475#Comment_20464475

I believe the main point in question in this thread is whether or not Quicken supports more than one currency in a single account and the fact is that it does not (in either the USA or the CND version). If the OP's use case is to model a real world account, like many brokerage accounts in Canada, that hold CAD and USD denominated securities and cash under one account number, then the solution is to create two accounts in Quicken, one for each currency. This works well and cash F/X transactions can occur between the two accounts. That being said, the OP has not elaborated on their interest in multi-currency or the specifics of their use case….

Chris_QPW

I'm sorry your right @Arctic Hare . My statement was just "history", and didn't address the real question at hand.