Weird handling of accounts in different currencies

nanos

So, I made a weird discovery the other day. In my opinion this should be a "feature idea" but rather a bug report, but I wanted to post it anyway:

My main account is in GBP but I have a EUR bank account in my account. That account has a grand balance of EUR 5.00. But my Wave balance sheet shows a balance of £35.72.

So, according to Wave EUR5.00 = GBP 35.72.

Inquired with them, and this is their reply:

Wave will calculate a running total based off of the previous transactions. Wave will convert each transaction based off of the mid-market daily rate provided by XE.com. Then the running total of all these transactions are added together, instead of calculating the balance based off of the current exchange rate.

Respectfully, this is total nonsense.

Having an accurate picture of your assets and liabilities is one of the core functionalities of any accounting software, and this behaviour makes this totally impossible.

So in other words: If you have accounts in other currencies, Wave is pretty useless!

Here is a view of my transaction in that account:

So my suggestion is: Please ensure that the balance sheet accurately reflects the total assets and liabilities. (Yes, I have done the math: They did indeed include £53.72 in my total assets, not EUR 5 ~ £4.20.)