Use Multiple Currencies Simultaneously

  • 7
  • Idea
  • Updated 4 years ago
  • Not Planned
I have accounts in different countries. It would be nice to be able to specify different currencies for different accounts, transactions, and envelopes and then get a consolidated view in a preferred currency. Perhaps this could be done with an xe.com feed. I guess it would be tricky deciding how to choose the effective date for the currency translation and make necessary adjustments for gains/loses due to exchange rate fluctuations, but it would be great if you could do it.
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douglas.h.frank

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Posted 9 years ago

  • 7
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cmchien, Official Rep

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Hi Doug. You're right that this would be tricky. It is do-able (in some form or other) but I'll be candid that our near-term roadmap does not plan to support this. We'll update here if this changes.
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Austin Bingham

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Is support for multiple currencies still not on the roadmap? For my purposes, simply being able to specify an exchange rate for inter-account transfers would be sufficient, e.g. similar to what gnucash supports. This leaves open the question of how to calculate the "unallocated" sum, but that's such an amalgam of different accounts that, honestly, it's not a terribly useful number by itself.
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Colin Grant

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If that works for you that is excellent. I have tried it and it does not work for me. I like working with an integrated unallocated balance that represents all my unbudgeted cash be that in savings, current etc. With it all tied together in the way Goodbudget and others (YNAB, Mvelopes etc) handle it I do not have to worry about reconciling sub accounts. That said, if you are working with multi-currency you probably have no alternative but use a full accounting package.
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Austin Bingham

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Exactly right. I think I'd be happier with something hosted and less complex than gnucash, but multi-currency support is important to me.
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Colin Grant

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That might be difficult to find but hope you sort it :-)
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John Vander Stel

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Hi Colin and Austin,

I'm just curious about how one would use GNU Cash for envelope budgeting.  Please email me about it privately at NE1477@juno.com where I have a temp email address and I'll write you back and give you my permanet email address.

Cheers!

John Vander Stel
Grad Rapids, Michigan
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Colin Grant

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That is the point, John, I most certainly would not use it. GB is far better at that sort of thing.. After all GNU Cash is designed as an accounting , not budgeting, package.