Exchange Rates used in Tax Summary Report

Lip Tsin
Lip Tsin Member Posts: 2
Hi, I'm using Reckon Account Personal Plus 2019 and realised that when Reckon generates the Tax summary reports, it uses the exchange rate on the day the report is generate and not the exchange rate on the date when the income is entered.

I found out when I had to reprint the same report a few weeks apart and the figures were different on the USD accounts.  Tried looking if there are any settings to change it but I did not or could not find any.

If anyone knows how I can do that please help.

Also, with the exchange rates, shouldn't reckon have a rate for everyday when you update it ? Cause when I look at the Historical rate for the USD I only have 6 entries for the month of April 2019 instead of one for each day.

Thank You


  • John Campbell
    John Campbell Member Posts: 193 ✭✭
    edited June 2019

    This is an interesting question, as it depends on when the currency transfer took place.
    If the asset is still being held as $US in a $US account, then the report could be considered reasonable.
    If you want to convert on a certain date, then shouldn't you enter a transfer to a $AU account for that date ?
    I do not know if a $US account maintains a $US balance (which I assume) or a $AU balance (which would be wrong).

    RPP is certainly limited in this respect. I don't know how to chart $AU vs $US in RPP, but you can print out the available exchange rate values. RPP appears to update currency conversion rates for the day you do share price downloads, not the exchange rate history.  I have used this list to indicate which days I updated share prices using RPP download facility.
    I do not know of a way to import currency conversion history to fill in the gaps, although for RPP, the only relevant rate is for the date of the report.