Shareholder Loan in Foreign Currency

cugwmui

Hi,
My base currency for the company is USD. In my cash and bank accounts, I have a Foreign Currency (EUR) account set up, and I make EUR payments from there. Recently, I transferred in some funds from my personal EUR account into the company, and I'm trying to account for it (manually).

I tried to create a journal entry which credited Shareholder Loan and Debited my EUR bank account. Unfortunately Wave doesn't have a way of specifying the currency while creating the entry, so it assumed the entry to be a USD amount in the transaction list.

So I deleted the entry, and created a Shareholder Loan (EUR) account in the € currency, and then tried creating the journal entry. Now, both debit and credit accounts are €, yet Wave assumes it to be a USD transaction.

How do I get Wave to show it as a EUR transaction?

Barsin

Hey there @cugwmui

Your journal entries will always create the transaction in USD unfortunately. So with that being said, are you able to use income and expense transactions instead of the journal? The reason for that is your account is likely seeing money moving in and out of your account which would best be accounted for using income and expense transactions.

If you could give us a use-case scenario describing the amount of money moving to and from which account we might be able to assist you a bit further. Thanks so much for your cooperation

Have a great weekend.