Fair and square J I already encountered the difference between exchange
rates downloaded by AceMoney, and those published by my bank. Correcting it
manually seems to be best choice.
] On Behalf
Of MechCAD Software
Sent: Friday, November 16, 2007 1:16 PM
Subject: [acemoney] Re: Different currency in bills
Actually this is exactly what I had in mind. Your account is in HRK
and all transactions on the account are made in HRK. I realize that
there is no way to schedule payments in Euro with HRK account, but in
real life you will pay in HRK based on Euros, not in Euros.
Whenever you are making a payment in Euros using your HRK account, you
can't possibly know upfront how much exactly your Euro amount is in
HRK. Banks usually use their own currency exchange rates which are
different from the official rates, may change several times a day and
sometimes a bank may even charge foreign currency fee.
So, even if you know an amount paid in Euros, there is no way to find
out how much money will actually be paid in the account currency until
bank reports it in a statement or online. For instance, even if
AceMoney allowed you to have a bill deducting 10 Euros from your HRK
account, you would never know if your bank charged you 500 HRK or
503.55 until the bank says what the charge is. You will enter the bill
using an estimated value and later would have to update the
transaction with the real amount.
So, you can either wait and not record a bill until you know its
amount in HRK, or compute the estimated amount manually and change it
later. And this is why we are not planning to support transactions or
bills in more than one currency in the same account.
> Thanks for quick answer!
> Well, it's not like that in my country (Croatia). Most of the loans
> get here are connected to Euro. e.g you get a loan of 5.000 Euro,
> account is credited for equivalent amount of HRK (Croatian Kuna). It
> same with your monthly debt payments. You pay them in HRK, but they
> connected to Euro (e.g. monthly payment on 2-year 5000 Euro loan
> interest rate is ~222Euro's or ~1600HRK).
> From: email@example.com <mailto:acemoney%40yahoogroups.com>
<mailto:acemoney%40yahoogroups.com> ] On
> Of MechCAD Software
> Sent: Friday, November 16, 2007 3:35 AM
> To: firstname.lastname@example.org <mailto:acemoney%40yahoogroups.com>
> Subject: [acemoney] Re: Different currency in bills
> AceMoney only follows what the banks do: keep all transactions in the
> account in the same currency. Even when you pay for something in Euros
> and your default currency is different, your bank at some point in
> time converts the paid amount from Euros to the account currency.
> Therefore we are not planning to support multiple currencies for the
> same account.
> Thank you,
> Alex Simanov
> MechCAD Software
> --- In email@example.com <mailto:acemoney%40yahoogroups.com>
> "Marinko Sepic" <msepic@> wrote:
> > Hello!
> > Some of the bills I need to pay are in different currency than my
> > default one is. As exchange rates are fluctuating daily, if I enter
> > bill amount in my default currency, I can't have long term accurate
> > results. Are there any plans for including this functionality?
> > Thanks