USA/Canada Exchange Rate

jdbmgc
jdbmgc Member ✭✭
edited March 2023 in All Things Canadian (Windows)
When asked for the USA/Canada exchange rate when entering an income item I entered 1.35340 in the item I was adding. After the program finished processing the item I checked the item and found that the program used 1.34348. The rate I used was for the previous month as I needed it. How do I get the program to use my rate?

Best Answer

  • Arctic Hare
    Arctic Hare SuperUser ✭✭✭✭
    Answer ✓
    Quicken (Canada) maintains a daily FX rate table and will use the appropriate F/X rate for the date you entered, using a past rate only if the table doesn't have the exact date of the transaction. Have you checked the F/X history table to see what rate is in the table for the date of the transaction. 

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Are you using the US or the Canadian version of Quicken?
    In the US version, entering a transaction dated in the past will record correctly with the specified exchange rate. But Quicken does not maintain a history of exchange rates. Looking at reports converted to the Home Currency will only show the latest rate ever entered or downloaded.
  • jdbmgc
    jdbmgc Member ✭✭
    I use the Canadian version of Quicken. I tried entering the rate for the month that I'm reporting but Quicken entered a different rate, possibly for the date I entered. Is this what happened? It used to enter the rate that I wanted, ie. for a particular month, but not now.
  • UKR
    UKR SuperUser ✭✭✭✭✭

    Please contact  Quicken Support on the phone during posted hours of operation and ask for a support person familiar with the Canadian version of Quicken.
    It's my understanding that the exchange rate history is part of the Canadian version and should give you proper reports ... if you can prove that it doesn't, then that's a matter for Support to research and escalate.

  • Arctic Hare
    Arctic Hare SuperUser ✭✭✭✭
    Answer ✓
    Quicken (Canada) maintains a daily FX rate table and will use the appropriate F/X rate for the date you entered, using a past rate only if the table doesn't have the exact date of the transaction. Have you checked the F/X history table to see what rate is in the table for the date of the transaction. 
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