OldSnakey Dec 30, 2012 @ 8:44am
Multiple currency support
I just picked YNAB up and I'm liking it but find the support of multiple currencies deficient. You can make a budget in whatever currency you like, but within a single budget there is no support for additional currencies.

This is a pretty big issue for me, I didn't realize until I really started using it. I guess creating multiple independent budgets is the only current solution for this, but it won't be convenient to reconcile.
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RodeoClown  [developer] Dec 30, 2012 @ 11:00am 
We'd like to use multiple currencies in the one budget too, but it's really hard to do right. Our lead developer splits his time between Italy and the US, and we have several other team members who work frequently in multiple currencies, so it's not something we aren't aware of.

The big problem is that it's really hard to keep an accurate budget in two currencies, because you can't really budget for day to day currency value fluctuations, or the cost of converting money. So you really need to treat each currency as it's own mini-budget, which you can do at the moment using the independent budget method (as you've discovered), but it's not ideal.

It's something we're looking into, but we've yet to figure out the best way to deal with it.

Cheers.
OldSnakey Dec 30, 2012 @ 7:03pm 
Even some way to send from one budget to another would be useful. If the currencies are different in the two budgets, you could be prompted to enter the rate or converted amount (after rate and bank fees).
Sto Apr 24, 2013 @ 8:05am 
Hello,
How about having a default currency (the one that is currently set in every user's budget), and a list of foreign currencies that the user selects because he may use them. Then, when adding a transaction, a user may choose, instead of his default currency, one of the others. Then YNAB could use a default rate (pulled from Internet) to compute the "planned amount" in default currency. This value should be editable by user so that it can match real values. Each account should have a currency (which defaults to default currency), and budget should be computed in default currency using recent change rate (pulled from Internet, or set manually by the user) for any foreign currency item. That won't get you to a perfectly balanced budget at the end of the month, and you may need more adjustments if your currencies rates vary a lot, but that's a choice a multi-currency user could make. Who has a budget perfectly balanced, "to-the-cent", anyway?

Thanks for reading me, and thank for the awesome work on YNAB!

David
Last edited by Sto; Apr 24, 2013 @ 8:07am
RodeoClown  [developer] Apr 24, 2013 @ 1:50pm 
If the budget isn't perfectly balances "to-the-cent", then you can't trust it at all.
Using the reconciliation function makes it super-simple to make sure your budget knows about the money you actually have.

Multiple currencies is REALLY hard when you have a zero-based budget. We're still looking into it, but it's HARD :)
FaTaL Apr 24, 2013 @ 4:24pm 
Программа хорошая, но не вижу смысла ее покупать без поддержки многовалютности. Ждем
Alenonimo May 17, 2013 @ 5:18am 
Maybe we could set the conversion rate for the transactions. We could select them in bulk and specify "hey, these ones are 2.033 because that's what it says on the bill and these are 2.109 because that's what says on this other bill". They usually change only each month.

Also, I have PayPal that actually works with several different currencies. They store them too so they don't really need a conversion until I spend them. What I know is that I can't have PayPal on my brazilian budget, even though a transaction may end up using part of my PayPal balance and part of my credit card bill. So you could consider having a special account for PayPal-like services.
Elendiar Jan 2 @ 1:45am 
using very, very old programm on symbian 9.4 since 2011, and he HAS multicurrency (exchange rate relative to the base currency), and you sell this program without multicurrency, telling about "hard to do right". REALLY!? in 2014 year!?
cokebottle Jan 2 @ 2:09am 
Is your old app an zero based budgeting app?
Elendiar Jan 2 @ 2:37am 
flying money, can create a budget and takes into account different currencies, simple interface with no frills, but perfectly do its job.
cokebottle Jan 2 @ 2:40am 
It's the fact that YNAB is made to implement a zero based budgeting method that makes it really difficult to have multiple currencies with fluctuating exchange rates.
Bobbie Jan 2 @ 4:30am 
The best that comes to mind to me would be something like giving each month an additional column (that can be shown or hidden at any given time) for each individual currency. So you can see both at once if you want, and each one is budgeted to zero separately to maintain the overall system intact.

So if someone is hopping between the US and Italy, then you maybe have an option where you can check and uncheck "Show US Dollars" "Show Euros" and if you have both checked, January 2014 has two columns, February 2014 has two columns etc. (Maybe it could even just be whether you have the list of "Budget Accounts" for a particular currency collapsed or not at a given time could control whether the other details are visible.)

If you exchange $1000 out of dollars, that becomes an expense, maybe. Then whatever is received in Euros for that money becomes recorded as "Income"

The actual exchange rate is sort of irrelevant at that point, because you're just telling the system how much money went away from one column and arrived in the other.

It's still essentially two budgets, but it seems like it'd be more graceful to be able to display it within a single screen.
Elendiar Jan 2 @ 4:41am 
"with fluctuating exchange rates" let user set static rates or sync them throw internet automatically?
Regime Jan 2 @ 4:57am 
Originally posted by Sto:
Hello,
How about having a default currency (the one that is currently set in every user's budget), and a list of foreign currencies that the user selects because he may use them. Then, when adding a transaction, a user may choose, instead of his default currency, one of the others. Then YNAB could use a default rate (pulled from Internet) to compute the "planned amount" in default currency. This value should be editable by user so that it can match real values. Each account should have a currency (which defaults to default currency), and budget should be computed in default currency using recent change rate (pulled from Internet, or set manually by the user) for any foreign currency item. That won't get you to a perfectly balanced budget at the end of the month, and you may need more adjustments if your currencies rates vary a lot, but that's a choice a multi-currency user could make. Who has a budget perfectly balanced, "to-the-cent", anyway?

Thanks for reading me, and thank for the awesome work on YNAB!

David

Agreed. The default rate should be updated at the time of entry, so every single entry with a foreign currency should have its own conversion value.

Naturally there should also be a user-serviceable option if a particular shop/business charges a specific conversion rate, but for the most part, the above solution should do.
EvolutionKills {R} Jan 8 @ 11:32am 
Hi! I am also waiting for multiple currency support. I am a translator and I get paid in PLN, Euro and US Dollars. I don't mind updating the rates myself.
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