We present to you: multiple currency support. Seasons Greetings!

We present to you: multiple currency support. Seasons Greetings!
Blog post · 22 Dec, 2014

With the end of the year rapidly approaching and Christmas in just three days, we’d like take a moment to announce the beta release of multi-currency support in PocketSmith. Following years of planning and months of development, we’ve very excited to get this into your hands!

Having accounts in multiple different currencies is tricky to do properly. We’ve been discussing this important step forward internally and with customers for a very long time now, planning the feature set carefully. This is a beta release, which means we’re continuing to refine and enhance how having accounts in different currencies works.

Alongside the beta multi currency feature list, we’ve also put together the caveats for the current release. This article will change as we identify other gaps, and complete items on this list towards the final release of multi currency support.

Multi currency release feature summary

Up-to-date balance conversions was the area that we tackled first. This means if you hold accounts in different currencies, you’re now able to see these balances converted to your home currency. This gives you a consolidated view of Net Worth across all currencies.

• Full currency and conversion information wherever balances are displayed, or display the converted amount by default
• Conversion of foreign currency account balances into your base currency for Net Worth and total balances
• Converted category totals for spending in foreign accounts
• Extensive currency support list, with 166 currencies supported including non-fiat currencies like gold (XAU), silver (XAG), and Bitcoin (BTC).

Net Worth conversion information. Conversion rates are updated every hour.

Conversion information in the Bank Statements sidebar. All foreign currency balances will display this.

What isn’t supported in the beta

Graphing and forecast conversions are the primary features that don’t feature complete multi-currency support at this stage, and a complete list of caveats for the release is here.

Integrating multiple currency support into budgets and forecasting is top of the priority list, as this will show real value when trying to plan and budget in an overseas currency. There will be enhancements to how budgeted transfers between foreign accounts operate, as well as conversion integration for future balances.

We’re also really excited about the plans we have for analysis of historical currency trends through the balance graphs within the application, and also for historical transaction information as well.

Releasing prior to completion means that we’re able to release sooner and gather feedback on what is missing. Please get in touch with us with your feedback if you notice any gaps.

We wish you all a safe and happy holidays!

2014 has been great for PocketSmith, and we’d like to take a moment to thank you all for your support. We’ve helped more people this year than ever before, and released some brilliant upgrades to the software - thanks to both our wonderful customers, and our brilliant team.

We wish you and your family a happy and safe holidays. Best of luck for all your financial goals in 2015, and may PocketSmith help you achieve them!