Foreign Accounts

Lynne Dartnall
Lynne Dartnall Member Posts: 21 Novice Member Novice Member
edited October 11 in Personal Plus and Home & Business

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  • Unknown
    Unknown
    edited February 2017
    This content has been removed.
  • Lynne Dartnall
    Lynne Dartnall Member Posts: 21 Novice Member Novice Member
    edited September 2016
    Thanks Dave

    I have done that, but unfortunately it doesn't keep the US Accounts separate from the NZ Accounts on the left hand side so it all gets put together. 

    Ideally I would like the Accounts kept separate...

    NZ
    Personal Cashflow
    Investing
    Property & Debt

    US
    Personal Cashflow
    Investing
    Property & Debt

    I am probably asking for it to do something it is not designed to do!

    Thanks


  • Unknown
    Unknown
    edited February 2017
    This content has been removed.
  • Lynne Dartnall
    Lynne Dartnall Member Posts: 21 Novice Member Novice Member
    edited September 2016
    I am using Reckon Personal Plus Accounts and I cant find that?
  • Unknown
    Unknown
    edited February 2017
    This content has been removed.
  • Lynne Dartnall
    Lynne Dartnall Member Posts: 21 Novice Member Novice Member
    edited September 2016
    I know how to set up accounts but if I want a spending or spending or savings account in both NZ and US Dollars it then sticks them under Personal Cashflow on the left hand side of my screen under Accounts.  This gives me a total of  NZ$ as it calculates the currency exchange.  I don't want it to all total to a NZ$ Amount.

  • Unknown
    Unknown
    edited February 2017
    This content has been removed.
  • Lynne Dartnall
    Lynne Dartnall Member Posts: 21 Novice Member Novice Member
    edited September 2016
    mmmm I have set them up with the different currencies.

    I'm not sure how I change the view.

    In the list, it says that my US Chq account is in US$ but the total for the Personal Cashflow is in NZ$ and it converts the US$ into NZ$ (i manually added them up as well).

    Under the home tab it has accounts and then it lists all the account
    Personal Cashflow
    Investing
    Property & Debt

    But all the bank accounts I have (whether they are NZ or US) sit under personal cash flow and then the total is NZ$.

    I looked at customise but that just talks about the "Centers" - Personal Cash Flow, Investing and Property Debt (which are the tabs I have across the top).

    I am using Reckon Account Personal Plus 2016 (maybe that's the problem)?

    Thanks for helping by the way!
  • Unknown
    Unknown
    edited February 2017
    This content has been removed.
  • Paul Blake
    Paul Blake Member Posts: 24 Novice Member Novice Member
    edited December 2017
    Depending on what you're doing, I'd be very cautious about mixing currencies in your accounts. I tried it and gave up. The biggest problem is tax accounting.

    The tax office will want income/expenditure information in $NZ at the time the transaction occurs. The exchange rate will vary from day to day, but Reckon doesn't take that into account in any exchange calculations. It only uses the latest exchange rate for all historical transactions. This means you need a separate system to manage the exchange rate issues.

    I opted for a spreadsheet to track all the $US-$AU transaction conversions, then enter everything in Reckon in AU$ from that. Reports from Reckon are therefore all in $AU and can be used for tax accounting etc.
  • Lynne Dartnall
    Lynne Dartnall Member Posts: 21 Novice Member Novice Member
    edited September 2016
    Thanks Paul.   I really want to keep it all separate so may just have two different files.  My other problem is that I cant download the transactions from the US Bank account anyway so might look at Quicken for the US stuff instead and just keep everything separate.  Thanks

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