Home currency and exchange rates
Home currency is now used to calculate totals in accounts list, blotter and reports. To convert from one currency to another Financisto uses list of exchange rates. You can add any rate on any date manually or download current rate from on-line provider.
Here how it works. Go to Menu -> Entities -> Exchange rates:
Initially the list is empty, you can add a rate by selecting “from” and “to” currency and taping on + button. To edit a rate just tap on it, to delete – long tap and tap Delete from popup menu.
The screen to add a rate is straightforward. You can change the date and the conversion rate value manually. The button on the left of calculator downloads the rate for specified currencies from Internet. Currently it can only get the rate for the current date, ignoring any other selected date.
When calculating total amount, conversion rate is looked up from the list according to the transaction date. For example:
Date | USD -> EUR | Amount USD | Converted amount EUR 1 Mar | 1.3324 | 10$ | 10*1.3324 = 13.32 2 Mar | No rate | 20$ | 20*1.3324 = 26.65 3 Mar | 1.3415 | 10$ | 10*1.3415 = 13.41
Note that for 2nd of March the conversion rate from the previous day is used to calculate the amount. This means that if you already have some transactions, say, one or two years old, then you would need to add an exchange rate which has the date matching the date of the very first transaction. Otherwise the amounts will be converted 1 to 1 into Home currency. You can get historical rates on xe.com.