How is a transfer recorded between accounts with different currencies?

TimelyBills supports transfers between accounts that have different currencies (including currencies other than your base currency). These transfers can be one-time or recurring.

Here’s how it works:

1. From Account Selection (refer to the screenshot attached below )
   When you select the From Account, the transfer amount will be entered in that account’s currency.

   • If the From Account uses a different currency than your base currency, the equivalent amount in your base currency will also be shown.

   • If a currency conversion rate is already available between the From Account currency and your base currency, it will be used automatically.

   • If no rate is available, you can manually enter or adjust the rate using the conversion icon to open the conversion dialog.

   • The base currency amount is used for aggregation and net worth calculations.
             
     

2. To Account Selection: (refer to the screenshot attached below)
   Similarly, when you select the To Account, the credit amount is entered in that account’s currency.

   • If the To Account currency differs from the base currency, a separate amount field will appear for that account.

   • The equivalent base currency amount will be shown, and you can adjust the conversion rate if needed using the conversion dialog.

   • This base currency amount is also used in reports and net worth calculations.