Running Balance Reporting and Exchange Rates - FINCEN Bank Account Report

Alan5

I have several non-US bank accounts that require reporting to FINCEN the maximum balance for the year if over USD$10,000.00.

I would like a report to provide me the ending balance each day. I would then take this report and export it to a spreadsheet and apply daily exchange rates to each day to get the USD$ balance amount and then select the maximum balance.

Even better would be for Quicken to produce this report and apply the daily exchange rate. However, currently Quicken does not store a daily exchange rate. This would be helpful for all reporting where I want to know the value of a transaction or balance as of the exchange rate for that day, not the exchange rate when I run the report.

Ideal would be a dedicated FINCEN report that provides the maximum balance for non-USD$ designated accounts.

Jim_Harman

If you are running Premier or above, you should be able to use the report at Reports > Tax > Maximum account balance.

Also see this post.

https://community.quicken.com/discussion/7961746/fbar-report-improvements-needed

Apparently you are supposed to use IRS-approved year-end exchange rates, not daily rates, for this report.

Please let us know if that works for you.