Work with more than one currency

AceMoney Studio keeps every account in its own currency and converts cross-account totals, such as net worth and the Account balances report, into one base currency using exchange rates it downloads for you, or rates you type yourself. Rates are stored in your document, and follow it to your other computers when it syncs with AceMoney Cloud; the only thing sent to the rate service is the list of currency codes.

Choose your base currency

Open Settings ▸ Currency & Quotes.
Under Currency, open the Base currency dropdown, which lists every world currency as its code and name, for example USD — US Dollar.
Pick the currency you want totals in.

The base currency is used for Net worth on Home, the Total of the Account balances report and the value of your investments. Until you pick one, the first currency in the document is used (USD in a new document), and a document imported from AceMoney Classic starts with that file’s own default currency as its base. If you use the document on several computers, the newest choice of base currency is used on all of them.

Give an account its own currency

Open Accounts and choose Add account, or Edit account on an existing one.
Next to Opening balance, open the Currency dropdown and pick the code.
Choose Add or Save.

Every transaction in that account is in the account’s currency; a transaction cannot have a currency of its own. The dropdown lists every world currency, searchable by code or name, not only the ones your document already holds; choosing one adds it to the document. A new account starts in your base currency. A document imported from AceMoney Classic keeps the currencies that file uses, together with their rates. For a currency that is not on the world list, such as a coin or a token, see Add a custom currency.

Transfer between accounts in different currencies

In the transaction form choose Transfer.
Enter the Amount leaving the source account.
Pick the Transfer to account.
In Transfer amount enter what arrives in the other account’s currency. Its helper reads Defaults to the amount; differs only for multi-currency, so for same-currency transfers you can leave it alone.

A read-only Exchange rate line under the two amounts shows the rate in use. Both sides keep their own figure, so each register stays correct in its own currency whatever the rate did that day.

Keep exchange rates up to date

Update exchange rates automatically in Settings ▸ Currency & Quotes is on by default, for each document. While it is on, Studio downloads today’s rates by itself when you open the document, and checks again every hour while it is open and whenever an account starts using a new currency. It goes online only when a currency in use has no rate for today yet, so it downloads at most about once a day.

To download now:

Open Settings ▸ Currency & Quotes.
Choose Update exchange rates. The text next to the button reads Never downloaded the first time and Last updated with a date afterwards.
Wait for the result line, for example Updated 2 of 2 rates as of the date. When you typed a rate yourself, the line adds how many were kept, for example Kept 1 rate you entered by hand.

Studio asks a free public exchange-rate service for today’s rate from your base currency to every other currency your accounts use, and stores the answer in the document. Only currency codes are sent; no amounts, names or account details. Totals then use the stored rates offline. Turn the switch off if you only want to download when you choose the button.

See, type and change exchange rates

Under Exchange rates on the same tab, each currency in your document is listed against the base, with its rates newest first. Each rate shows its date and Entered by hand or Downloaded; the one used for totals is marked In use. A currency without any rate says No rate yet: amounts convert 1:1.

Add rate opens Add exchange rate: pick the day with Date: … and type the Rate, in either direction (for example from euros to dollars, or from dollars to euros).
Edit rate (the pencil) and Delete rate (the bin) change or remove a rate.

The latest rate you type is used until you remove it, even if a newer rate is downloaded; downloaded rates stay in each currency’s list. From version 1.2, a downloaded rate shows Use this rate while a rate you typed is in use: choose it to remove the rates you typed for that currency and go back to the downloaded one (Undo brings them back).

Add a custom currency

Under Exchange rates, choose Add custom currency.
Enter a Code of 2 to 5 capital letters that is not a world currency code, a Name, an optional Symbol (left blank, amounts show the code) and the Decimal places.
Select Add.

The currency then shows in every currency list, marked Custom. A custom currency has no automatic download: type its rates with Add rate. For a coin or token, turn on Download this rate from Coinbase under the currency. It is off by default; when it is on, only that currency’s code is sent to Coinbase to get today’s rate.

How converted totals are shown

Home ▸ Net worth shows a caption Converted to followed by the base code, or Mixed currencies, converted. Until the base currency loads it reads Mixed currencies.
Reports ▸ Account balances marks its Total with (converted), or Mixed currencies until the base currency loads.
The Portfolio page’s summary reads Converted to the base code when holdings trade in several currencies.
A small ≈ next to any total means a currency had no exchange rate and was counted 1:1. Its tooltip names the currency, for example No exchange rate for GBP — converted 1:1. Set a rate in Currencies. On the Portfolio, a holding with no rate is not converted at all: it is counted at the cash you paid for the shares you still hold, and the tooltip says counted at the cash paid.

Investments in another currency

An investment is read in the currency of its account unless it trades in another: set Currency in the investment’s form to a code instead of Same as the account. Its value is converted into the base currency in the Holdings summary using the same downloaded rates, and a currency-exchange icon marks the row. See Investments and quotes.

Common questions

Which currency does Net worth use?

The base currency chosen under Settings ▸ Currency & Quotes. Until you pick one, the first currency in the document is used (USD in a new document), and a document imported from AceMoney Classic starts with that file’s own default currency as its base.

What happens when there is no rate for a currency?

Studio never blocks a total. The currency is counted 1:1 and a ≈ sign with a tooltip tells you which one, so a Euro account shows up as if it were dollars until a rate is downloaded or you type one. A share holding in another currency is counted at the cash you paid for it instead, and its tooltip says so.

Does Studio update rates automatically?

Yes, by default. Update exchange rates automatically downloads today’s rates when you open the document and while it is open. Turn it off in Settings ▸ Currency & Quotes if you want your totals to change only when you choose Update exchange rates. A rate you typed by hand is never replaced by a download.

Can I type an exchange rate myself?

Yes. Under Settings ▸ Currency & Quotes ▸ Exchange rates, choose Add rate on the currency. A rate you type is used until you remove it.

Are historical rates kept?

Every download is stored with its date, and totals use the most recent rate for each pair. Past transactions are not revalued at the rate of their day; Home and Reports always convert at the latest rate. A rate you type is used on every computer until you remove it, even if a newer rate is downloaded.

Can I change an account’s currency later?

Yes, with Edit account. The amounts in the register are not converted; they simply count as the new currency from then on, so do this only for an account whose transactions are in the wrong currency.

What is sent to the rate service?

The currency codes, for example USD and EUR. Nothing about your accounts, balances or identity. See Privacy and security.

Do I need to unlock Studio for currencies?

No. Base currency, per-account currencies, custom currencies and rate downloads are part of the free version.

Troubleshooting

“Choose a base currency first.” Pick a Base currency in the dropdown above the button, then choose Update exchange rates again.

“Every account is in USD, so there is nothing to convert yet.” Every account uses the base currency, so there is nothing to download. Rates are fetched only for the currencies your accounts use.

“Custom currencies have no download. Enter their rates by hand below.” Your only other currencies are custom ones. Type their rates with Add rate, or turn on Download this rate from Coinbase for a coin or token.

“Couldn’t reach the exchange-rate service. Try again later.” The device is offline or the service did not answer. Check the connection and try again; stored rates keep working meanwhile.

Updated 1 of 2 rates. The service had no rate for one of your currencies. That currency keeps its previous rate, or is counted 1:1 with a ≈ sign if it never had one.

A ≈ sign appears next to a total. Choose Update exchange rates. If it stays after a successful update, the service has no rate for that currency and it remains counted 1:1; type a rate with Add rate.

Totals changed although I entered nothing. Update exchange rates automatically downloaded today’s rates. Turn it off in Settings ▸ Currency & Quotes to keep the rates you have.

I cannot find the currency I need in the dropdown. Type its code or name to search the list of world currencies. If it is not a world currency, such as a coin, add it with Add custom currency.