CURRENCY & FX
See how MoniTrak brings foreign-currency accounts and activity into one consistent base-currency financial picture.
4 min readBEFORE YOU START
Foreign-currency information keeps its original currency, while MoniTrak uses converted values whenever information from different currencies needs to be combined.
Your selected base currency
Configured exchange rates
Historical FX rates stored with foreign-currency transactions
Current FX valuations for foreign-currency account balances
STEP BY STEP
Accounts and transactions remain connected to the currencies in which they actually exist. MoniTrak does not replace those original values just because your workspace uses another base currency.
Historical transactions use the rate stored when they were saved, while current foreign-account balances use the current configured rate for valuation.
This keeps historical activity stable while allowing current foreign-account valuations to reflect your latest configured rates.
When Overview combines accounts and financial activity, MoniTrak uses base-currency equivalents so totals remain comparable.
Consolidated in your base currency
Reports use the base-currency value of foreign activity so categories and totals can be analyzed together without mixing incompatible currencies.
Budget, Forecast and Goals use your base currency for consolidated planning so future amounts can be compared with the rest of your financial picture.
A consolidated AED amount does not remove the underlying currency information. You can still understand the original amount, currency and FX conversion behind a foreign-currency value.
THE RESULT
MoniTrak keeps original currency information where it belongs while using your base currency whenever accounts, activity and plans need to be combined or compared.
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