Remember Me
forgot your password?

Customizing the List of Currencies That Microsoft Money Uses

Do you work, bank or do business in more than one currency? For example, do you bank in U.S. Dollars, transact in both Dollars and Euros, and then perhaps regularly do business in Japanese Yen? You may want to customize and update the list of currencies and the exchange rates that Microsoft Money uses by following the procedures provided in this article.

Backgrounder information on Money's handling of multiple currencies

Money allows you to keep your financial records using multiple currencies. To see the list of Money currencies and to make changes to the list of Money currencies that you can use, choose the Tools menu’s Options command and then click the Currencies tab.

Reviewing Money's currency list

You can review the list of currencies that Money recognizes. To do this, simply scroll the list of
currencies that appear on the Currencies tab. The main currency you selected during the Money setup process is identified as the base currency.

Deleting a currency from Microsoft Money

To delete a currency from the list, click the currency to select it and then click the Delete
button.
To rename a currency, select the currency by clicking it and then click the Rename
button. When Money displays the Rename Currency dialog box, provide a new name and symbol for the currency.

Adding a new currency to Microsoft Money

To add a new currency to Money’s list, click the Add New Currency button. When
Money displays the Currency dialog box, provide a name and symbol for the currency
using the name and symbol text boxes.

Updating currency exchange rate information in Microsoft Money

If you do work with multiple currencies, you’ll need to provide exchange rates to convert
currencies to their equivalent main currency values. To provide an exchange rate, select
the currency from the list box on the Currencies tab. When Money enables the text boxes shown in the bottom portion of the Currencies tab, use the drop-down list box to identify which way the exchange rate will work. For example, if you are going to express the exchange rate in terms of U.S. dollars per Swedish kronas, select this
description from the list box. Next, enter the exchange rate value in the Exchange Rate
text box. For example, you might want to show an exchange rate in which five U.S. dollars
equal one Swedish krona.

Click the Set As Base Currency button to change the currency that Money assumes you want to use for record keeping when you don’t specify otherwise.
If appropriate, select the Update Exchange Rate Online or This Country Uses The Euro check boxes to indicate how Money should handle transactions denominated in the selected currency.

A final note: If you're a business transacting business in more than one currency--suppose you're a small S corporation or limited liability company that regular buys and sells items not only in your usual domestic currency but also in the currency of your major supplier--you may have currency translation requirements you're required to follow for your tax accounting. Be sure to confer with your tax advisor or outside accountant about any such requirement.

Stephen L. Nelson, CPA

CPA Stephen L. Nelson is the author of do it yourself kits for Incorporating in Tennessee, Tennessee S corporation, and Tennessee limited liability company.

Rate this Article: 0 / 5 stars - 0 vote(s)
Print Email Re-Publish

Add new Comment



Captcha

  • Latest Finance Articles
  • More from Stephen L. Nelson, CPA

Common Solutions to Improving Your Credit

By: John Stocker | 09/11/2009
Here are some common solutions to improve your credit.

3 Benefits of Using a Tax Professional to Resolve an IRS Wage Garnishment

By: Matt Robinson | 09/11/2009
If you are being faced with an IRS wage levy it is important that you act fast to limit the effects of the levy. The IRS typically shows little remorse for what taxpayers need to live their daily lives and to pay their other required expenses. There are many different...

Forexnoloss Robot Review - Forexnoloss Robot Scam

By: suresh599 | 09/11/2009
Why you trade 10 before 20 trades a time? To imperil supplementary? A survey reports assumed so as to " out cold of 10 dwell in no more than 2 dwell in are profitable fashionable trading". Why don't you befall the single fashionable individuals 2 traders?

Debt Settlement - How to Reduce Your Interest Rate and Eliminate Debt

By: Matt Couch | 09/11/2009
Every problem that has been created as a result of recession has been hard to handle for the global economies. Most of these problems have proved to be damaging in the long run. Unemployment is yet another massive complication that has emerged as a result of recession. In certain places, the amounts of people without jobs are more than the ones with employments.

Debt Relief Companies - Characteristics of the Best Debt Relief Companies

By: Matt Couch | 09/11/2009
It is a rare sight that fifty percent or more of a certain population select the same money granting company. Everyone has different preferences and requirements due to which they make different decisions. The concept of debt relief companies is not very different as well. This settlement option has not been there for a very long time.

Debt Relief - How to Eliminate Credit Card Debt and Stop Collection Calls

By: Matt Couch | 09/11/2009
Cash is a mandatory component that governs all the functional operations. A scarcity in this department puts a money granting company in a vulnerable position. Thus they are forced to go for an option like debt relief in which a coordinated argument takes place between the loan takers and money granting firms.

Debt Help - Would You Accept a Lower Credit Score to Eliminate 60% of Your Debt

By: Matt Couch | 09/11/2009
Most of the customers who are under liabilities face loan complications and problems relating to repayment. In case of personal loans, it happens that the charged interest rate is higher than quoted by the money granting company. When the client gets his first bill, there are various charges which are not knows to him.

Debt Relief - Why Pay Your Credit Card Debt When You Can Get Rid of 60% First

By: Matt Couch | 09/11/2009
Debt relief as an option has been introduced to combat problems relating to recession and economic complications. In addition to that with the increase in lost jobs, the power of repayment has declined in most cases. A lot of clients have selected the debt relief option so that they can pay less and improve their monetary situation.

Cpa Tips for Simpler Small Business Accounting

By: Stephen L. Nelson, CPA | 05/09/2008 | Small Business
Want to keep your small business accounting system running smoothly? One CPA suggests simplifying your bookkeeping by following five, easy-to-understand tips.

Using S Corporations for Real Estate Investment

By: Stephen L. Nelson, CPA | 05/09/2008 | Small Business
The general rule is, "Never, ever put real estate inside a corporation." But in a handful of special cases, a corporation, more precisely an S corporation, can be a useful tool for savvy real estate investors.

A Cpa Explains How to Fire Your Financial Planner

By: Stephen L. Nelson, CPA | 05/09/2008 | Small Business
Do you really need to pay a financial planner five, ten or twenty thousand dollars a year to help you with your personal finances? Some CPAs say "no," as this article explains.

Professional's Guide to Business Incorporation

By: Stephen L. Nelson, CPA | 05/09/2008 | Small Business
Are you a professional--a doctor, dentist, engineer or accountant--interested in incorporating your practice? Use these tips for making the process easier and safer.

Forming a Professional Limited Liability Company

By: Stephen L. Nelson, CPA | 05/09/2008 | Small Business
Small businesses and entrepreneurs often minimize their liability and save taxes by using a limited liability company. Unfortunately, the rules get tricky for professionals (doctors, lawyers and others) who want to take advantage of the LLC option. This article suggests five tips for making the professional LLC setup process clean and error-free

A Cpa's Accounting Tips for New Businesses

By: Stephen L. Nelson, CPA | 08/08/2008 | Small Business
Starting a new business? Consider these five, easy-to-use tips to keep your accounting and taxes clean, lean and simple.

Picking a Cpa for Your New Business

By: Stephen L. Nelson, CPA | 08/08/2008 | Small Business
Need to find a good certified public accountant, or CPA, for your new business? Using these five tips will make your selection easier.

Easy Pension Options for Small Business Owners

By: Stephen L. Nelson, CPA | 08/08/2008 | Small Business
Looking for an easy yet economical small business pension plan? CPA and former tax professor Stephen L. Nelson says you've got at least three easy, economical choices.

Submit Your Articles Free: Signup
Article Categories




Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (2.60, 5, w1)