CURRENCY & FX
Enter income or expenses in their original currency while MoniTrak calculates the corresponding value in your base currency.
5 min readBEFORE YOU START
Record the transaction in the currency in which it actually occurred. MoniTrak can then use the applicable exchange rate to calculate its base-currency value.
The original transaction amount
The currency in which the transaction occurred
A configured exchange rate for that currency
The actual rate used by your bank or card if you want to override the suggested rate
STEP BY STEP
Create the transaction as normal, then select the currency in which the income or expense actually occurred.
Do not convert the amount manually before entering it. Keeping the original amount preserves the transaction's actual currency information.
MoniTrak uses the transaction date and your configured exchange rates to suggest the applicable conversion rate into your base currency.
Before saving, MoniTrak shows both the original amount and the calculated value in your base currency so you can understand exactly how the transaction will contribute to consolidated totals.
If your bank, card provider or other source used a different exchange rate, replace the suggested rate for this transaction. The override applies only to this transaction.
The 3.6900 override belongs only to this transaction. Your configured USD rate remains 3.6725.
A transaction-level override does not change the default exchange rate configured in Settings.
When the transaction is saved, MoniTrak stores the original amount, original currency, FX rate used and resulting base-currency value together.
Future changes to your configured exchange rate do not rewrite the historical conversion stored with this transaction.
The original currency remains available on the transaction while its base-currency value can contribute to Overview, Reports and other consolidated MoniTrak views.
THE RESULT
A foreign-currency transaction keeps the amount that actually occurred while MoniTrak stores the conversion needed to include it consistently in your base-currency financial picture.
NEED MORE HELP?
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