What is the suggested way to enter credit card transaction carried out in a foreign currency?
Say my CC is issued in Australia (and so in AUD), I bought something online in euro. Do I need to make a conversion to a CC base currency, or is there a way to enter euro amount and have the software do the conversion?

Kind Regards,
Peter

I enter the transaction in the credit card ledger as any other charge. But I make the following adjustments due to the charge being in a foreign currency:
1) I do a rough conversion calculation and enter that as the amount.
2) I enter "est." in the "No." field as Quicken did until I know the actual charge amount in my currency.
3) I enter the currency used in a "Tag"

After I check my credit card statement on line and see the actual charge posted in my currency, I
1) Remove the "est." entry in the "No." field
2) I change the amount to the final posted amount
3) I calculate the effective conversion rate and add that to the "Memo" field.

I do not enter exchange rates into the price and currency dialog as I don't see any need to record these conversions there. Furthermore, I could have several different ones on the same day which the currency tracking in the program doesn't provide for.

markhm wrote:I enter the transaction in the credit card ledger as any other charge. But I make the following adjustments due to the charge being in a foreign currency:
1) I do a rough conversion calculation and enter that as the amount.
2) I enter "est." in the "No." field as Quicken did until I know the actual charge amount in my currency.
3) I enter the currency used in a "Tag"

After I check my credit card statement on line and see the actual charge posted in my currency, I
1) Remove the "est." entry in the "No." field
2) I change the amount to the final posted amount
3) I calculate the effective conversion rate and add that to the "Memo" field.

I do not enter exchange rates into the price and currency dialog as I don't see any need to record these conversions there. Furthermore, I could have several different ones on the same day which the currency tracking in the program doesn't provide for.

I thought that might be the case. Software I use now allows to enter transaction in the foreign currency and will use current bank exchange rate to convert to the local currency. When the charge is posted and I know the actual local currency value, I can then enter it in the register and software will adjust the exchange rate. This becomes "frozen" and independent of the future exchange rate variations.
The benefit of that is that you keep permanent record of the actual cost in the foreign currency and the exchange rate for that transaction.
Not a deal breaker, but certainly nice to have all those years later Thanks for your answer,

Kind Regards,
Peter

If you have your credit card in AUD and a category denominated in EUR, then KMyMoney will track that expense together with the conversion rate (per transaction).