foreign currency transfers

Felicity_9228490
Felicity_9228490 Member Posts: 5 Novice Member Novice Member
edited May 2020 in Accounts Hosted
Using Reckon Accounts Hosted I am trying to do a transfer between two foreign currency accounts (the same currency) is this possible? Or do I have to do a two transaction process so that the home currency amount can be recorded as well.

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  • Lee_8688889
    Lee_8688889 Member Posts: 85 Reckoner Reckoner
    edited May 2020
    Reckon will let you transfer amounts between foreign currency accounts of the same currency. You don't have to do a two transaction process.
  • Felicity_9228490
    Felicity_9228490 Member Posts: 5 Novice Member Novice Member
    edited May 2020
    How do I get it to account for the correct home currency account to ensure the balance is correct? It appears that if I use the exchange rate it changes the amount on the other bank account but when I use exchange rate of 1 it throws the home currency balance out?
  • Lee_8688889
    Lee_8688889 Member Posts: 85 Reckoner Reckoner
    edited May 2020
    sorry I thought you said that the 2 accounts were both foreign currency accounts, eg. USD. If that is the case you don't need to apply an exchange rate in the transfer transaction. As long as the currencies are the same then it is 1:1 rate.

    I don't really understand your 2nd sentence about the effect on the home currency. 

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