wish: "Forex / currency conversion" transaction types

Bug #1673260 reported by Jeff Fortin Tam on 2017-03-15
14
This bug affects 2 people
Affects Status Importance Assigned to Milestone
HomeBank
Wishlist
Unassigned

Bug Description

These days I have accounts set up in various currencies in Homebank. However, the only way I found/imagined for representing conversions (forex by moving funds from one account to another) is to create a manual debit and credit transaction with both accounts, and annotate the exchange rate manually in the transaction's "info" field.

I thought "that's a bit of a pain, but this kinda works, I suppose"... until I realized today that those transactions will mess up Homebank's statistics... because they appear as debits/credits, uncategorized. I "could" create two transaction categories for "Forex", but they would still skew off my statistics, as if I had made huge income/expenses every year even though it's money that never really moved...

So I'd love to have a better way to represent this in Homebank. Should this be a new "transaction type", with special rules (ie: you set the source amount, then either the selling conversion rate or the converted destination amount?), or should it be represented in statistics as some special multi-currencies calculation, or...?

Also worth mentioning: I can't just pull off the global currency exchange rate from the Internet via Homebank, because I want to look at the rate of my bank (which is always around 2.5% lower or higher than the market rate, depending on which way you're converting)... so currently I end up maintaining a separate spreadsheet of the currency exchange rate "when I received the money in the account matching the origin currency" and the currency exchange rate of "whatever amount I converted at a given time" (which also lets me guess when is a good time to convert or not)...

Maxime DOYEN (mdoyen) on 2017-05-01
Changed in homebank:
importance: Undecided → Wishlist
LeTic (letic) wrote :

Hello @kiddo,

This has already been discussed in issue #552565 more specifically in these two comments : https://bugs.launchpad.net/homebank/+bug/552565/comments/35 and https://bugs.launchpad.net/homebank/+bug/552565/comments/41

At the time Maxime didn't wanted to delay the release of multi-currency as it has been a long time requested feature.

I am not sure if he's willing to implement this in homebank as he argued that most users are not interested by this. I had a look at the code to see if I could help but the architecture seems quite complicated and it is not clear how difficult this would be to implement.

@mdoyen would you consider adding xfer in different currencies to homebank ?

Take care
LeTic

Maxime DOYEN (mdoyen) wrote :

So the need is to enable a xfer that keep (sealed) the exchange rate from source to target ?
Or is that more complex?

Jeff Fortin Tam (kiddo) wrote :

I'm not 100% sure what you mean by "enable a transfer that keeps/seals the exchange rate from source to target", but here's what I want in other words:

- a transaction "type" that links two transactions with differing amounts (ex: 100 USD in one transaction linked to the corresponding 130 CAD transaction in a different account). Basically like the existing "Internal transfer" transaction type/feature, but allowing for diverging amounts and currencies on the two linked transactions.

- for those two transactions to not be counted in the statistics (or to have some sort of treatment that doesn't skew the stats like it does right now)

If that's what you're asking: no need to have homebank calculate forex, I just want to enter both amounts manually (because that's dependent on my banks etc., so I take whatever amounts they give me). No need for me to enter/use an exchange "rate", even; just input currency1 amount, output currency2 amount...

rugk (48509946-3) wrote :

So in times of *very* volatile cryptocurrencies, I think this is really important. :D

So currently you can already add an exchange rate, but to the currency, not to the transaction, so this may be the "only" thing, which needs to be changed.

See https://bugs.launchpad.net/homebank/+bug/1749473 for my bug report.

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