afadil
Feature request: FX rates for cash activities
Summary: Selecting "Use different currency" for cash deposits does not allow for transaction FX spread.
Context:
- My base currency is non-USD (non-US home market), but I trade in USD.
- I convert cash from my home currency to USD to make these trades.
- My brokerage applies an unknown spread to this currency conversion trade.
- To properly track returns, I need to take this spread into account.
Problem:
- When adding a cash deposit activity, I have 1 of 2 options:
- Deposit in non-USD: BUY exchange rate calculations are calculated dynamically. This does not accurately reflect the actual conversion activity.
- Deposit in USD: I cannot specify an associated base currency amount. This means currency spread is not reflected.
Request:
- Add transaction-specific base currency exchange rates for cash activities, OR allow adding a base currency amount for cash activities.
- Note that I am not sure of any dependencies this would have on book cost, net deposit, or other calculations.
This feature would be highly useful!
I sometimes journal shares between two different currencies and currently there's no way to use a rate that was locked in when journaling was initiated. I think any situation where you have a transaction involving two entities with different preset currencies should have an option to explicitly specify an exchange rate. For example:
- Buy/sell EUR equity from/to USD account
- Transfer from EUR account to USD account or vice versa
Automatic currency conversions can be useful for showing net wealth or purchasing power, but many common transaction may have locked in conversion rates which are best handled by allowing the user to specify them when recording the transaction.
It would be lovely if you could add this in. I started using Wealthfolio a week ago and was loving the experience until I journaled a bunch of shares and now I'm completely stuck lol.
