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1) Setting Accounts: Each account has a selected currency this is set by editing the existing account and selecting from the list of currencies from the drop down list. Each account will then be sub-grouped by the currency, on the account summary screen.
2) Account Transfers between differing currencies: If you have an account transfer of differing currencies the amount is debited from your account in your currency and a separate amount is added to the other account, using the exchange rate to calculate the transferred amount. As the exchange rate used is not the actual rate used by the bank you can amend the transferred amount later on, this will not affect the original debited amount.
4) For scheduled payments between accounts of different currencies, the exchange rate is used to create the automated transfer record.
5) Reports can be viewed in the original currency or in another currency (click on the customise button and select the currency). For example if you are, using a mixture of Sterling (GBP), Euro and Dollars you can select Euro only to see the reports in Euros only.
6) Investments and stocks can have different currencies, so you can use the same stock which is priced in sterling for an account with a sterling currency and also for an account with a different currency such as dollars etc. This allows the stock price to be downloaded once – and the rate of exchange downloaded at the point you need to calculate your investments market value.
Article ID: 28
Category: BankTree Desktop 3.0 Personal Finance
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