How to set up multi-currency support

Multi-currency support is activated as soon as you have one or more accounts in PocketSmith with different currencies from your default base currency.

Currency selectors are now available at three levels within PocketSmith:

  • Base currency - Your currency across your entire PocketSmith account.
  • Bank currency - The default currency for a particular Bank
  • Individual bank account currency 

For most people, all that you'll need to check is that your base currency and individual account currencies are correct.


Base currency

You can set a  base currency, which is your default currency across your PocketSmith account. This means that if you have accounts in other currencies, they will be converted to this. The base currency is typically set to the country that you currently reside in.

You can change your base currency in Settings > User Preferences

Bank currency

The currency can be set for each bank. This sets the default currency for the bank so that when adding a new account, the account will select this currency by default.

To set the currency at the bank level:

1
Head to the Account Summary page ( Accounts > Account Summary)
2
Select the bank you'd like to set the currency for in the left menu panel, and then choose Manage > Edit
3
Choose the appropriate currency from the drop-down menu. Then click Save

Note

Changing the currency at the bank level will not automatically update the currency for any existing accounts with the bank and you'll need to update each account's currency as outlined here: Individual bank account currency

Individual bank account currency

A currency can be set for each bank account. When creating a new bank account, it will default to the base currency, or the bank currency if this is different to the base currency. You can change an account's currency from the Account Summary page (Accounts > Account Summary) by heading the account's Manage Account > Account Preferences section.


More information on Multi-Currency

More information on the current multi-currency features can be found here, and you can also review the caveats and to-dos for the feature while it's in beta.

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