Paypal: Transactions in different currencies

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Member ✭✭
edited July 2021 in Download, Add/Update Accounts (Windows)
Hi all.

I sent 440 in GBP (British pound sterling) from PayPal. But it was downloaded into my Quicken as $440. On PayPal I see that it was sent in GBP.

Is it possible to download transactions in different currencies?

Thanks.

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Best Answers

  • Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited July 2021 Answer ✓
    Not being a PayPal customer myself, my first reaction would be to ask PayPal support why they are not downloading this transaction with the correct $ - equivalent amount.
    A US bank account can only have transaction amounts expressed in a single currency: USD.
    If you manually enter this transaction into your Quicken account register, you can enter a foreign currency transaction as follows:
    • One-time set up: Define a currency key code "P" (or whatever letter you like and is not already used) for the Pound Sterling currency entry in Tools / Currency List. Edit the Pound Sterling entry and put a "P" in the Key column. Save. Exit.
    • Start a new transaction in your account register. In the Charge column type "440p". The amount will immediately change to the $-equivalent, e.g. $608.45, based on current exchange rate in the Currency List and a "£440.00" will appear in the Memo field.
    • When the matching transaction downloads, but with a slightly different amount, because PayPal charged a different exchange rate, edit the amount. There should be an exchange rate popup prompt. Reenter the £ amount, "440" to adjust the exchange rate in Quicken.


  • Quicken Windows Subscription Member ✭✭✭✭
    Answer ✓
    vaysberg said:

    Is it possible to download transactions in different currencies?

    The answer is no.  Quicken US doesn't support downloading in anything other than USD.
    Signature:
    This is my website: http://www.quicknperlwiz.com/

Answers

  • Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited July 2021 Answer ✓
    Not being a PayPal customer myself, my first reaction would be to ask PayPal support why they are not downloading this transaction with the correct $ - equivalent amount.
    A US bank account can only have transaction amounts expressed in a single currency: USD.
    If you manually enter this transaction into your Quicken account register, you can enter a foreign currency transaction as follows:
    • One-time set up: Define a currency key code "P" (or whatever letter you like and is not already used) for the Pound Sterling currency entry in Tools / Currency List. Edit the Pound Sterling entry and put a "P" in the Key column. Save. Exit.
    • Start a new transaction in your account register. In the Charge column type "440p". The amount will immediately change to the $-equivalent, e.g. $608.45, based on current exchange rate in the Currency List and a "£440.00" will appear in the Memo field.
    • When the matching transaction downloads, but with a slightly different amount, because PayPal charged a different exchange rate, edit the amount. There should be an exchange rate popup prompt. Reenter the £ amount, "440" to adjust the exchange rate in Quicken.


  • Quicken Windows Subscription Member ✭✭✭✭
    Answer ✓
    vaysberg said:

    Is it possible to download transactions in different currencies?

    The answer is no.  Quicken US doesn't support downloading in anything other than USD.
    Signature:
    This is my website: http://www.quicknperlwiz.com/
  • Quicken Windows Subscription Member ✭✭✭✭
    P.S. Any given account can only have one currency, so even if downloading in different currencies was possible, you would have to have a different account in Quicken for each currency.
    Signature:
    This is my website: http://www.quicknperlwiz.com/

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