Multi-Currency Support

Financio supports multiple currencies, allowing you to track overseas bank accounts, foreign investments, and international transactions. All amounts are automatically converted to Australian Dollars (AUD) for unified reporting.

Supported Currencies

Financio supports the following currencies:

Setting an Account's Currency

Each account in Financio has its own currency setting. To set or change the currency:

1. Go to Accounts
2. Click Add Account (or edit an existing account)
3. In the account form, select the Currency from the dropdown
4. The currency flag and code appear next to your selection
5. Save the account

How Currency Conversion Works

Financio converts all foreign currency amounts to AUD for reports and net worth calculations.

Exchange Rate Source

Exchange rates are sourced from the Reserve Bank of Australia (RBA). The RBA publishes official exchange rates daily, providing accurate and reliable conversion rates.

Conversion Process

When you add a transaction to a foreign currency account:

1. The transaction is stored in its original currency
2. Financio looks up the exchange rate for that date
3. The AUD equivalent is calculated and stored
4. Reports show both the original amount and AUD value

Rate Lookup Order

For any transaction, Financio finds the exchange rate using this order:

1. Exact date — Uses the rate published for that specific date
2. Fetch from RBA — If no rate exists, attempts to fetch from RBA
3. Most recent rate — Falls back to the most recent available rate

Viewing Exchange Rates

Transaction amounts are displayed in their original currency throughout the app. In reports and net worth calculations, foreign amounts are converted to AUD using the applicable exchange rate.

When viewing a foreign currency account:

• Transaction amounts show in the account's currency
• The account balance appears in its native currency
• Net worth reports convert the balance to AUD

Reports and Net Worth

Net Worth Calculation

Your net worth report converts all foreign currency balances to AUD:

• Each account balance is converted using the current exchange rate
• The total net worth is displayed in AUD
• Changes in exchange rates affect your reported net worth

Cash Flow and Expense Reports

Transaction-based reports (Cash Flow, Expenses, Income) convert each transaction to AUD using the rate from the transaction date. This means:

• A US$100 expense from January uses January's exchange rate
• A US$100 expense from June uses June's exchange rate
• Totals are summed in AUD

Best Practices

One Currency Per Account

Each account should represent one currency. Don't mix currencies within a single account—if you receive both USD and EUR, create separate accounts.

Regular Account Checks

Because exchange rates fluctuate, your AUD-equivalent balances will change even without new transactions. Review your net worth periodically to understand the impact of currency movements.

Track Major Currency Holdings

For significant foreign currency holdings, consider tracking the exchange rate impact over time. Large swings in the AUD can materially affect your net worth.

Common Use Cases

Overseas Bank Account

Track a bank account held in another country:

1. Create an account with the local currency (e.g., USD for a US bank)
2. Import or add transactions in USD
3. View the AUD equivalent in reports

International Investment

Track shares or funds denominated in foreign currency:

1. Create an investment account with the appropriate currency
2. Add transactions in the local currency
3. Performance is shown in the original currency, with AUD conversion for net worth

Travel Expenses

Track spending while overseas:

1. Create a dedicated account for the trip currency
2. Record expenses in the local currency
3. Review total trip spending in both currencies

Foreign Income

If you receive income in foreign currency:

1. Use an account with the income's currency
2. Record deposits in the original currency
3. Income reports show both the original and AUD amounts