How does TimelyBills support multiple currency accounts?

TimelyBills now supports managing accounts in different currencies, allowing users to track their total net worth and insights across various currencies seamlessly.

When you create a new account, you can select any supported currency, even if it differs from your base currency (the one chosen during signup—for example, USD or United States). Once you add an account in a different currency, TimelyBills will include it in your overall net worth by converting it to your base currency. . 

Currency Conversion Rates:

By default, TimelyBills uses a Default Built-In Conversion Rate to estimate values across currencies, which might not be the latest. However, if a rate isn't available, or you want to update it manually, the app will prompt you to provide the conversion rate. You can do this via the Currency Conversion dialog, which appears when:

1. A conversion rate is missing.

2. You click the check box conversion icon next to a foreign currency account balance (see the highlighted part in the screenshot below).
   
   

In the above Currency Conversion dialog, you can:

1. Enter the conversion rate (e.g., USD to EUR).

2. Click the swap icon to reverse the direction (EUR to USD).

3. Confirm by clicking Done.

Once a rate is added, the account's foreign currency balance is immediately reflected in your net worth in the base currency.

Cross-Currency Transfers:

When Transferring Money between accounts with different currencies, TimelyBills automatically uses the most recent conversion rate. However, you can over-wride it during the transfer by:

1. Manually adjusting the conversion rate.

2. Entering the exact amount credited in your base currency account (to account for fees or rounding).
   
   

For example, if you transfer €20 from a EUR account to a USD account, the app shows:

1. The converted value in USD (Point no. #1 in screenshot below)

2. An option to edit the rate or directly input the credited amount in USD (Point no. #2 in screenshot below)

● This ensures flexibility and accuracy, especially if there are bank charges or the actual converted amount differs slightly from the rate-based calculation.