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Conversion from $CDN to $US account - Rounding issues

Annoyed3

I have a $CDN account and a $US account. I transferred $3096.59CDN to my $US account. The bank shows that I received $2226.00. When I enter the transaction, I entered $3096.59 sent and $2226.00 received as a transfer, Quicken calculates the exchange rate. When I then go to my $US account Quicken changed the $2226.00 to $2225.98. It will not let me change it back to $2226.00.

How do I get Quicken to show what the bank shows, $3096.59CDN come out of one account and $2226.00US into the other account?

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Comments

Arctic Hare

@Annoyed3 you might have to post screen shots because I can't replicate the issue using the exact amounts you indicated. I did have to do it in two steps though. After entering the transaction as you want it, Quicken does some odd rounding and, as you indicated switches the received amount from $2,226 to $2,222.98 - I got that result exactly as you indicated. But, if I proceed to edit the received amount, Quicken opens the edit transaction dialogue box, I delete the exchange rate, re-enter the amount sent and click OK, and now the sent and received are correct. This has been my experience with the transfer feature across currencies; that is, it often involves an initial entry, Quicken erroneously changing one of the numbers, and me having to edit one side to fix some weird rouding error. Sometimes I've had to go back and forth a bit before Quicken finally records the transaction to match the bank - depending on the complexity of the FX transaction. However, I've never run into a case where I can't get the sent and received amounts to match that of the financial institution with some effort. I have had to accept an exchange rate that is rounded differently than what was reported by the FI; i.e. I can't get the amount sent, amount received, and the F/X rate to all match the FI reported values. I typically allow the Quicken FX rate to be slightly different from that of the FI.

In your case, what type of account is each account?

What method are you using to enter the transfer transaction in Quicken?

Can you post a screen shot of the dialogue box (window) that pops up when you try an edit the amount received?

Annoyed3

I had a typo in the one number, the $US amount shows up as 2225.98, when it should be 2226.00, I mistyped 2222.98. The $CDN account is a Chequing Account, the $US account is a Savings account.

The first picture is when I entered the amount into the CDN account.

This is where I entered the $US amount, the rate was calculated to be 0.71885, the bank app shows the conversion as 0.718855.

This is what shows up in the $US account.

I deleted the transactions, re-entered them multiple times. Finally I gave up and added a transaction $0.02US with the Category "Bank Charge" and the description "Correction because Quicken is braindead, I transferred $3096.59"
Quicken should not be recalculating the "To" amount for me, it should accept what I type in.

Arctic Hare

I agree that there is a bug in how Quicken enters the transaction , but I did explain how to work around the bug without having to add the $0.02. I encourage you to use the Report a Problem feature to report this to Quicken.

@Quicken Kristina @Quicken Anja @Quicken Kathryn can you please replicate and then report this bug?

Annoyed3

If I try to edit the received amount in the $US I get this message;

If I go to the matching record in the $CDN account and edit the amount, it gives the exact same result, I change the $CDN amount to something else, save it, it asks for the $US amount, then I press OK, then I edit it again, correct the amount, save it, it asks for the $US amount, I enter 2226.00 and press OK. Then I look at the $US account and the amount shows as $2225.98. I have gone in this circle many, many times, Quicken refuses to enter the correct amount and thinks it knows better than I do about what the amount should be.

Arctic Hare

@Quicken Kristina @Quicken Anja @Quicken Kathryn can you please replicate and then report this bug?

Arctic Hare

Why are you using a split transaction? I think you will have to use a non-split transaction to make this work as expected. When I tested it, I used a non-split transaction.

Kill the split and you should be able to get it to work as expected with the edit after entry.

Annoyed3

Split or non-split makes no difference, it always shows up $0.02US short in the other account.

jim@j

This has been a problem in Quicken for years. It’s clearly a bug that Quicken has never addressed. It certainly should be easy to fix but they have yet to fix it. Always have to do the two step adjustment. Perhaps as a result of this thread of complaints Quicken will finally address it.

jim@j

Arctic Hare

Please use the Report A Problem feature in Quicken to report this issue! The more reports quicken receives, the higher the priority to fix the bug.