How are currencies handled in reports

elorimer
elorimer Quicken Windows Subscription Member ✭✭
in Reports (Windows)

I'm looking for clarification on how Quicken handles currency conversions in reports. This is a tax time type question.

Specifically, if I produce a Tax Schedule report in dollars for accounts that are in dollars or Euros, are the euro account transactions converted using the exchange rate in effect at the time of transaction, or at the time the report is made? Ideally it would be either at the time of transaction, or the average exchange rate for the year; a report using the exchange rate in effect at the time the report is run is not useful, particularly given the weakening of the dollar over 2025.

I follow that a balance sheet report should convert at the exchange rate at the date of the balance sheet presented, and not at the date of the report (e.g., if I have a balance sheet report presenting quarterly information for several years, the calculation should be at each quarter). I don't know if that is the case.

Comments

  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    The U.S. version of Quicken Classic for Windows, unlike its Canadian counterpart, does not keep track of exchange rate history.
    Reports containing transactions from accounts of different currencies are either converted to the Home currency(*) or the report currency, as selected in report customization. The exchange rate for the entire report is used as shown in Tools / Currency List at the moment you generate the report.

    (*) The Home currency is assigned by selecting one of the currencies in Tools / Currency List and marking it with the Home button.

  • elorimer
    elorimer Quicken Windows Subscription Member ✭✭

    That's helpful, thanks. That means, among other things, that the Tax Schedule will be wrong, always, if you have more than one currency. Particularly for the 2025 tax year.

    I suppose the workaround is to create a tax schedule report for each currency for the accounts that use that currency, export it in its currency, and then use excel or access to combine the reports again with lookup values. Fairly simple exercise.

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