On Wed, 19 Jan 2000 23:57:59 EST, the world broke into rejoicing as
"Mehul N. Sanghvi" <[EMAIL PROTECTED]> said:
>
> I believe that MoneyDance handles this properly. I setup a dummy set
> of account in MoneyDance each with a different currency:
>
> dollar acct. US$ 25,000.00
> rupee acct. Rs. 34,096.00
> lira acct. L. 2,478,994,739.00
>
> The total in dollars is listed as: US$ 1,384,936.06
>
> The exchange rates used are as follows:
>
> ITL 1 -> 0.00054826966095004 USD
> INR 1 -> 0.02283105022831050 USD
>
> I don't know how to change the default currency (I tried changing the
> locale but that didn't do the job).
>
> Maybe someone can ask on the moneydance-info list to see how they do
> it ?
This is inherently nontrivial any time you're working with a transaction
that involves multiple currencies because parts of the value of that
transaction are inherently variable, dependent on the currency exchange
rate.
Supposing I have a transaction where I transfer funds from an account
in $USD to one in $CDN, I'll have *three* amounts associated with it,
as one of those accounts will need to have a placeholder for currency
gains/losses, and any time the exchange rate varies, and the value of my
(say) $CDN balance in terms of (say) $USD varies, things need to balance
and there will have to be some sort of currency exchange gain/loss.
This is *exactly* the same sort of idea as how the value of a stock
portfolio will vary from day to day as stock prices fluctuate, which
will similarly mean that displaying values exactly will be problematic
as they are dynamic.
I'm not sure what the right answer is, save perhaps to say that "normal"
accounts can only cope with a single currency, and that the "currency
exchange" accounts won't have meaningful values except when you write a
report that does the appropriate translations on the fly...
--
"In most countries selling harmful things like drugs is punishable.
Then how come people can sell Microsoft software and go unpunished?"
-- <[EMAIL PROTECTED]> Hasse Skrifvars
[EMAIL PROTECTED] - <http://www.hex.net/~cbbrowne/lsf.html>
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