Using multi-currency balance -- setting exchange rate

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Using multi-currency balance -- setting exchange rate

Kahlil Johnson
I am triyng to understand how the Asset expenses work. I have bank
accounts on 2 different countries, I send a wired transfer from bank in
Mexico to a bank in the US. I record the transaction as a Asset:Bank
Account: Bank in USA, label as a decresea of x ammount in MXP.

I have Bank in us as USD on currency however it shows as if the money from
MXP had the same value as USD which is completely wrong.

It might be that I dont have a currency exchange declared and is 1:1 by
default.


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Kahlil Johnson
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Re: Using multi-currency balance -- setting exchange rate

Derek Atkins
"Kahlil Johnson" <[hidden email]> writes:

> I am triyng to understand how the Asset expenses work. I have bank
> accounts on 2 different countries, I send a wired transfer from bank in
> Mexico to a bank in the US. I record the transaction as a Asset:Bank
> Account: Bank in USA, label as a decresea of x ammount in MXP.
>
> I have Bank in us as USD on currency however it shows as if the money from
> MXP had the same value as USD which is completely wrong.
>
> It might be that I dont have a currency exchange declared and is 1:1 by
> default.

Did you properly set the Account Currency when you created the accounts?
Once you've done that, you should be able to set the exchange rate.

-derek

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       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
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