Using multiple currencies

[John Ralls]

> On May 7, 2016, at 1:31 PM, Ruth Morley <morley.ruth at gmail.com> wrote:
> 
> Yes both sides of the double entry are in euros but the balance column shows up in dollars. Also it prompts me km ever y transaction for an exchange rate which actually makes sense if it is storing the rate but I would like the balance to be in euros although I suppose at some point in summarizing data it needs one currency..net worth for instance. Beginner 
> Ruth
> 
> On May 6, 2016 5:18 PM, "John Ralls" <jralls at ceridwen.us <mailto:jralls at ceridwen.us>> wrote:
> 
> > On May 6, 2016, at 1:05 PM, Ruth Morley <morley.ruth at gmail.com <mailto:morley.ruth at gmail.com>> wrote:
> >
> > Newbie - I have built a chart of accounts for here in the US and included
> > assets and expenses in France. When I enter my transactions against my
> > French bank it asks for an exchange rate and enters them in USD. I have
> > described this as a euro account and want to keep it in euros. Can I do
> > that? How?
> 
> To avoid exchange rates both split accounts must be in the same currency, so you need to have a set of expense accounts denominated in EUR and be sure to use those accounts for transactions with your EUR asset accounts.

Ruth,

Please remember to copy the list on all replies using "reply all" on your mail client.

Are you perhaps using the General Ledger to create the transactions rather than the register of one of the accounts that will participate in the transaction? 

Reports and the roll-ups on the Accounts page use exchange rates from the price database to convert balances in foreign currencies to your primary one. You can use Tools>Price Editor to add prices outside of transactions.

Regards,
John Ralls