But maybe even more importantly if you look at what happens in the investment accounts when the transaction count goes up, the performance goes down.
First off when started they wouldn't have planned for something like this and it would have been best if they wanted to do this to do from the ground up. Now as programmer I know why they don't do this. As in not only do you have the daily record of prices, with every transaction you record the price of that security at that time. Will get back to this forum following testingActually I understand what you are saying about your problem, and I have known that it is always been a problem in Quicken.įor Quicken to do really do multiple currencies correctly it would have to treat every amount like it does for securities. I currently keep comments stating how many widgets, price, conversion rate etc but it is cumbersome to use that comment field to create reports If I was keeping paper records, I would have a ledger for widget A, cost, currency, conversion and Canadian cost so I could manually scan for minimum, maximum, rough average and make an intelligent buying decision. Take that widget number and multiply by several hundred, take currency changes and multiply by several thousand variables and you can see that I am challenged to come up with anything but an approximation.Īpproximations don't cut it in knowing the true cost of goods sold. Quicken doesn't seem to cut it so I have to extract a report to Excel, save it, and refer to it to build these comparisons. Now I I want to look back to see if it is a good time to stock up on Widget A, I need to be able to look back at all individual transactions and see what it cost in Can $, as a minimum, maximum and average cost. Same widget, different cost, Dec 22, 2013, cost in Can 7.78 Same widget, same cost, July 1, 2013, cost in Can $9.25 Widget A, cost on Jan 4, 2013, 5.00 GBP, cost in Can $8.40 I see that I can extract the transactions to excel, then I can look at the historical rate table and plug those rates against the transactions for a given day, which will tell me the Can price that I actually paid, not what I would have paid if the exchange rate wasn't fluctuating. I may be unnecessarily complicating my life, but I need to be able to compare the cost of various widgets bought over multiple years, with multiple currencies and at multiple item prices. Will get back to this forum following testingFirst, thanks for the feedback and questions, they help me think through what I am trying to accomplish. I guess I am expecting too much from an off the shelf financial tracking program. And since I have perhaps 20 foreign currency transactions on any given day, I have to somehow remember the rate for each of those transactions. and can be duplicated on a year over year basis for comparison purposes. Very cludgie, but produces an accurate charge rate. So my work around, for now, is to use the historical rate table and to use the rate changes to plug against an extracted Excel file in raw currency amounts.įor example I may have 100 Euro transactions in a year (actually 3,000) and I can gather the data in Quicken under Euro currency accounts, then when I need to do a Can $ charge out, I extract all the Euro account numbers to Excel, refer to the historical exchange rate and apply that to each transaction in Excel. Unfortunately Quicken calculates the cost of a currency based on one rate applying to all transactions.Īnd the historical rate table does help in that it remembers a single rate of a given day, but I have not seen a way to calculate an annual comparison of cost of goods from within Quicken. Will get back to this forum following testingThanks for the suggestions, and it helps in a general sense, but not specific to individual transactions. Your comment about the historical exchange rate list is helpful and I will go back and test based on this table.
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