Could someone please help me work out how to show transactions in MS Money
for buying foreign currency? I just exchanged some Aussie dollars for US
dollars, at a currency exchange place. I gave them Australian notes, and
received US notes. How do I show this in my cash account? What category do I
put it under?
Cheers.

The only way to do this in Money that is at all effective is to create a
cash account denominated in the foreign currency. Then you Transfer your
Aussie dollars from the default-denominated account to the USD-denominated
account. On that Transfer, Money will ask for the conversion rate or
converted amount. This is accounting-proper as the only Expense (i.e.,
Category) here is if you paid an explicit fee--besides the spread on the
conversion rate. If you paid an explicit fee, you can create a Split
transaction with the fee expense as one element and the Transfer:[USD cash
account] as the other element.

"purpleairplane" <purpleairplane@discussions.microsoft.com> wrote in message
news:B612DC61-BD98-4D3E-A93C-74F5C3C7833D@microsoft.com...
> Could someone please help me work out how to show transactions in MS Money
> for buying foreign currency? I just exchanged some Aussie dollars for US
> dollars, at a currency exchange place. I gave them Australian notes, and
> received US notes. How do I show this in my cash account? What category do
> I
> put it under?

Thank you very much for your help Dick, I did what you suggested and it
worked well.. Cheers :)

"Dick Watson" wrote:

> The only way to do this in Money that is at all effective is to create a
> cash account denominated in the foreign currency. Then you Transfer your
> Aussie dollars from the default-denominated account to the USD-denominated
> account. On that Transfer, Money will ask for the conversion rate or
> converted amount. This is accounting-proper as the only Expense (i.e.,
> Category) here is if you paid an explicit fee--besides the spread on the
> conversion rate. If you paid an explicit fee, you can create a Split
> transaction with the fee expense as one element and the Transfer:[USD cash
> account] as the other element.
> "purpleairplane" <purpleairplane@discussions.microsoft.com> wrote in message
> news:B612DC61-BD98-4D3E-A93C-74F5C3C7833D@microsoft.com...
> > Could someone please help me work out how to show transactions in MS Money
> > for buying foreign currency? I just exchanged some Aussie dollars for US
> > dollars, at a currency exchange place. I gave them Australian notes, and
> > received US notes. How do I show this in my cash account? What category do
> > I
> > put it under?
>
>