Currency conversion while adding Indian bank accounts and loan accounts

I am right now living in US, but having accounts in India. When I am adding loan accounts or bank accounts from India, they’re importing all values in INR, but showing in dollars and that made my liability shoot up :slight_smile:

Is there a way I can create a hook to convert the currency from INR to USD while importing?

:wave:, @gauravtechie!

We only officially support single currency and USD.

In the past some others have used =GoogleFinance function and additional columns to convert other currencies coming in to USD.

https://support.google.com/docs/answer/3093281?hl=en

@heather Would the changes made by me via GoogleFinance function be overriden once the sync happens again?

This is the original entry in accounts Screen Shot 2020-01-14 at 10.12.38 AM

You would essentially need to use Google Finance to automate the currency conversion in probably Balance History (if it’s for net worth tracking) so that whenever a new entry comes in it would automatically convert it for you. I don’t have much experience with this so I don’t know for sure how it would work or how to do it. It’s not a supported workflow.

Perhaps some others here in the community have experience or ideas.

After I change the value column using Google finance, the value in the name changes Screen Shot 2020-01-14 at 10.14.47 AM

However, group liability doesn’t change (it is doing a sync and not adding the entire liability)

Great! That works. Still to check if that will get overriden in the next sync or not. Will keep the thread updated.

Hey folks. Does Tiller now work with multiple currencies?

Hi @NoName, we still do not work with multiple currencies.

wondering if multiple currencies support is in the pipeline in Tiller’s development? considering you guys support connections with global financial institutions.

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You can upvote a feature request to support multiple currencies. Just click here and click on the Vote button, then if everyone on this thread votes, maybe Tiller will work on an official solution.
https://community.tillerhq.com/t/foreign-exchange-fx-currency-conversion/13078

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Hi @gauravtechie can you please share the steps you did to convert from USD to INR.

I’m sorry to say that I haven’t seen a good workflow for this type of currency conversion, @VijayK. One challenge is that most Tiller and community templates are built around (and feed) the Amount column, so creating a derived/additional column can create a place for the conversion, but will not be referenced in all the available templates looking for data in the Amount column.

Many Tiller and Community templates have column lookup formulas in the “hidden area” and you may be able to remap the lookups for your template (like budget) to point to a derived column that you create in your Transactions sheet… but this is unpaved territory.

thank you @randy. You are correct either I have to create another column but that column cannot be used by the other templates to calculate. So its a pain.

Have you tried modifying a Tiller template to pull in your alternate Amount data yet?

It might be easier than you think…

I just tried this and it took 15 seconds…

  • Create a new column in the Transactions sheet called Alt Amount (or whatever you want)
  • Fill the data in Alt Amount however you want (for testing, I put this formula in the row below the header to double the values in Amount: =ARRAYFORMULA(E2:E*2))
  • Unhide the hidden area in the Monthly Budget Template (to the right)
  • Change the Amount-header lookup text to Alt Amount by entering that in J27
  • Rehide the hidden area

Two additional notes:

  • If you update or restore the template, you will need to restore this modification to the template.
  • You should be able to make similarly small changes to other Tiller templates by finding the lookup text for the Amount column in the hidden area.

Let me know if this works for you.
Randy

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Any update on this? I loved Tiller and unsubscribed because it doesn’t support multiple currencies

We don’t have an update on multi-currency support at this time, but thanks for asking!

What I did was create a sheet called mirror that mirrors the category sheet. I set up following cells
A1

={ Transactions!A1:E }

This mirrors the transaction sheet columns A to E then break with other formulas that are necessary to make it all function.
F2

=if( 
  len(F$1) * isnumber(B2) * isnumber(E2), 
  E2 * index( googlefinance("Currency:" & Formulas!H$5 & F$1, "price", B2), 2, 2), 
  iferror(1/0) 
)

The FormulasH5 can be changed to any cell that will house what currency you want to convert from. I have a sheet called Formulas where I input any formulas I use throughout my solutions for various things. So H5 has USD as the currency. If you wanted to convert from Euros then you would change that cell to EUR as well as any other currency. It can be any cell not H5. Wherever you choose to input that info.

G1
={ Transactions!G1:AC }

image

Then on another sheet I created a list of different currencies that I wanted to be able to use at any moment since I travel internationally. I then set a dropdown list from the other sheet. So
F1

=lst_currency

image
image

Now the reason I chose to do all this is because when set up with the mobile solution, I use the mirrors sheet to pull in data to populate the mobile app so when I am traveling, I can just quickly pull up what the conversion is for any spending that I am doing. And it can be reversed so if I pay something in cash with a specific currency then I can convert it back to USD depending on how nerdy I want to get. I am usually too lazy to do all that for small purchases but it’s always an option if I ever needed to account for a larger purchase in the future. And I can always view the mirrors sheet so I can see what conversions are for any currency I choose for my transactions sheet. Doing any of these formulas on the actual transactions sheet was giving me issues.

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interesting concept here! Thanks for sharing.