Multi-currency support

ROS

Hello, I've been an intensive Quicken Deluxe user for several years and am thinking about migrating to Quicken Business & Personal, mainly because I would rather have the ability to not depend on having access to a single computer with the desktop app installed.

I want to know if Quicken Business & Personal is compatible with multi-currency accounts. Does anyone here knows?😀

DryHeat

@ROS

No, it is single currency only. Multi-currency has been requested since 2019, but it hasn't happened.

https://community.simplifimoney.com/discussion/68/support-multiple-currencies

Coach Kristina

Hello @ROS,

Thank you for coming to the Community with this question. To provide a bit more detail, per our article on what currencies Quicken Simplifi supports, the US Dollar and the Canadian Dollar are the only supported currencies, and once you select the currency you want to use, it will support only that currency (USD or CAD, but not both).

I hope this helps!

DryHeat

@Coach Kristina, @ROS

"once you select the currency you want to use, it will support only that currency (USD or CAD, but not both)."

I have both USD and CAD accounts. Simplifi works with both in the same dataset and downloads from both US and CDN banks at the same time without difficulty. The ability to download from both USD and CAD accounts was a big factor in my move to Simplifi.

The only problem is that the account balances can be deceiving, as Simplifi is not aware of the currency and makes no adjustments for exchange rates. That makes linked transfers a problem, but otherwise all works well. I generate separate reports on my USD and CAD accounts so I get meaningful results.

Coach Kristina

@DryHeat,

Thank you for sharing your experience! Our article on the subject warns that it may cause balance discrepancies, but doesn't provide more detail.

Thank you!