Thu Jan 19, 2023 11:23 am
I started using Kmymoney this week and so far all good but I have a problem monitoring my net worth : Basically my default currency is GBP (Uk pound) and I have 2 accounts in Euro. I created the Euro currency and made sure that the prices are updated , so all good on that front. I am creating my accounts starting from the First of January 2023 in order to have a fresh start and for simplicity.
So when I run the NET WORTH by month I can see that my Euro account that had 450 Euro on it as a "starting balance" when I created was "valued" 450 in my report that is in GBP. So the report is showing 450 initial value at the start of January and 395 now after 2 weeks with no movements during the period. So it looks like the valuation at the start of the year is using a 1 to 1 exchange between Euro and Pounds when it should be about 1.14. I also tried to check the history on the Currency Euro/Gbp and looks good for the first of January , around 1.135. Is it maybe when I created the account I did not pay attention to the exchange rate and I left the 1 to 1 that is defaulted to? I tried to cancel the account and create another one using the 1.14 currency rate at the "initial Balance" set up but the problem remains.
So basically I see my net worth of the euro accounts correctly calculated as of NOW but incorrectly calculated at t-1 ( so beginning of the year).
Please let me know , thank you
Fri Jan 20, 2023 7:42 am
Problem solved! I managed to solve the problem by just adding a Currency price the day before the start of my accounts, so in this case on the 30th Dec.
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