Currencies
Julian
via web
I am just in the process of importing data from Quicken into a trial version of MD and notice that all the bank accounts, of which there are about 150 in this file, are set as GBP, which is very frustratindg as I now have to go and change nearly every one of them. But I notice that Swiss Francs and Swedish Kroner are not in the list of default currencies. is it possible to create them and if so, how?
Also I am wondering how you can do a transfer between bank accounts of different currencies without inputting the exchange rate. I know the source value in its currency and I know the destination value in its currency but I dont know the exchange rate. Do I have to calculate the rate first and then input it so that I get the correct destination value? I really hope not.
2 Posted by Julian on 07 Sep, 2010 10:44 AM
I would like to add to my last comment. I have found out how to create currencies. So that problem is solved.
But i have just imported all the transactions from Quicken into MD and I have a complete load of garbage, caused by the fact that when MD records the transfer of data in one currency to a bank account in another currency it just assumes that both banks are the same currency so I have total rubbish in the accounts. I should have a net worth figure of £11m but actually have a net worth of £87m. I do not have the time or the inclination to check and amend every bank account (even assuming such an exercise was possible) so i am going to have to give up on my MD migration program and look at Quicken 2010. Unlerss anybody has a quick fix solution......
Support Staff 3 Posted by Ben Spencer on 08 Sep, 2010 09:23 PM
Unfortunately QIF files do not indicate the currencies used on both side of a transfer or the exchange rate that should be used. This is a limitation of the file format and there is nothing that we can really do about it. QIF files are not suited for transferring data that involves transfers between accounts in different currencies. There is no quick fix solution to this problem. All such transfer would have to be corrected by hand after the import.
Sincerely
Ben Spencer
Moneydance Support
4 Posted by julian.coombes on 09 Sep, 2010 09:53 AM
Thank you for your response Ben. What shame!! I do not have the time to go and check all these accounts and sort them out manually - unfortunately.
Best Regards
Julian
Phone:+334 94 84 14 73
Mobile:+336 17 63 46 81
Skype: julianfrance
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-----Original Message-----
From: Ben Spencer [mailto:***@tenderapp.com]
Sent: 08 September 2010 23:25
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Subject: Re: Currencies [Switching from Quicken]
Support Staff 5 Posted by Angie Rauscher on 09 Sep, 2010 03:17 PM
Julian,
I'm sorry we don't have a solution for this issue at this time. We recognize this is a serious issue, and hope that in the future there will be a better way to deal with multi-currency transactions. I've attached the bug ticket for this issue to this case thread, so you'll receive a notification if/when progress is made.
Angie Rauscher
Moneydance Support