
Setting and Using Exchange Rates
Each MoneyWell account can have its own currency code and each time you assign a new currency to an account, a new entry is created in the Exchange Rates table.
How to set exchange rates:
- Select Activities > Review Exchange Rates
- Choose your native currency (the one set in OS X System Preferences) and set this value as "1"
- Set other currencies based on this primary currency
- If you need to add another currency code, simply add an account using that code
To use exchange rates:
- Assign a transaction to an account and it will use that currency
- When creating a transfer between two accounts with different currencies, the opposing transaction will calculate its amount based on the matching exchange rate in this table
- Change the exchange rates as needed; no transaction amounts will be affected, only new transactions created after this change