Recording expenses in a foreign currency
I'd like two additional fields for any amount I enter in a foreign currency (ie: any currency other than my 'main' currency). One field to enter an exchange rate and another to enter the expense amount in my 'main' currency (which, in my case, is US$). The way this would work is that you could populate either field but not both. Whichever one you choose, the app would automatically calculate the other. For example, if I enter the expense in GBP and the corresponding US$ amount, the app would calculate the exchange rate. If I enter the expense in GBP and the exchange rate, the app would calculate the amount in US$. The former would be useful if I convert cash. I know both amounts so the app can calculate an exchange rate. The latter I would use for credit card transactions. I know what I paid in foreign currency and I can easily find an approximate exchange rate for the date in question. Ultimately, the amount will need to be adjusted (edited) once I get my credit card bill because it is impossible to know in advance exactly what exchange rate the credit card company will use.
Anonymous
shared this idea
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SimplyMe
commented
Yes, it'll be great that the 2nd currency floats to the top next to the main currency or 2nd default. It makes entering expenses easier especially after a long trip. Plus a fixed currenccy so that you can capture the whole trip on a fixed exchange rate.
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Anonymous commented
As an expat who still files taxes in my passport nation, it would help to have this feature. I need my foreign expenses converted to reflect the exchange rate for the specific date of any receipt I scan into the app so that I can keep track of deductible items, but in my passport nation's currency.
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The more I think about it and the more I feel this will be too complicated for the app:( What about the users enter the converted amount to the currency they want and then add the notes for the actual amount and currency?
Thanks,
John
