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Multi-Currency Accounts and Investments Tracking

atsob

Currently you can have only one FX rate stored per currency.

However having accounts and investments in different currencies, in order to track these appropriately you should be able to:

store historical FX rates in the system
reports to take into account the historical FX rates and not only the latest FX rate stored as currently.

Thanks

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Reports

Windows

Multi-Currency

Investment Reports

Reviewed

Status: Reviewed

Comments

Chris_QPW

Yes, Quicken Windows Canadian has this feature, but not Quicken Windows US.

EDacho

I would like to prioritize multi-currency support per account as well.

Chris_QPW

https://community.quicken.com/discussion/comment/20522736#Comment_20522736

I can pretty much guarantee this feature is never going to happen. But you can go to the home page on this forum and select New Post → New Idea so that people can vote on it. That is the only way it will have any chance of being considered.

My reasons why I think it will never happen are threefold. The first is there just enough demand for it. If you create the idea the voting on that will prove my point.

The second is that it is technically very difficult. For multiple currencies per account each currency would have to be treated in the same way that securities are treated.

Just look at the complications you are talking about.

You can't just have a single a balance, you have to have one for every currency used. What's more when you go to buy a security there might be a currency exchange just to get the cash to do the buy. The same problem happens on the sell side. All kinds of things would have to change in the GUI and such.

And the third is that unless all was implemented was manual entry, there isn't any standard on how to download transactions like this.

EDacho

Per your comment "Quicken Windows Canadian has this feature" (so maybe not so hard after all?)

Rather than track the foreign currency history as you suggest, I would see the account maintaining foreign currency balance(s) in the account. Interestingly, the new EWC+ interface already creates a default foreign currency "security" in Quicken (provided by brokerage I assume)! Foreign security dividends, purchases/sales, would be credited/debited to/from the foreign security balance avoiding any currency transaction discrepancies. The interface would require a record of foreign currency daily balances (which again the new EWC+ interface is already doing today albiet in local USD versus foreign currency). In fact, I currently get a discrepancy notice from QW whenever I download foreign brokerage account transactions informing me that my foreign currency security balance in QW does not match my brokerage account foreign currency balance!

On a daily basis, the local foreign security balance (exchange rate dependant) in QW may differ slightly from the brokerage firm balance but the differences would be minor.

Although it is possible to have multiple currencies in an International Brokerage account, it is more likely to be only a few.

PS - I love your ImportQIF routine for loading my Target transactions. Thanks kindly for sharing it!