Euros to dollars for European vacation

Posted by Just me on June 14, 2009, 6:39 pm

Please log in for more thread options

I am planning a trip to Europe. To facilitate access to money, a
relative who lives there has offered to provide me with euros in a
lump sum when I get there. If I need more euros they will provide me
with more on a flow basis. When I return to the U.S. I will convert
the total amount of euros I used into dollars using the then current
exchange rate and I will deposit this amount of dollars into my
relative's bank account here.

How would you handle this in Quicken?

Thanks!

ggeinec
George
gearlnospamno@nospamcomcast.net

Posted by TomYoung on June 14, 2009, 6:50 pm

Please log in for more thread options

> I am planning a trip to Europe. To facilitate access to =A0money, a

> relative who lives there has offered to provide me with euros in a

> lump sum when I get there. If I need more euros they will provide me

> with more on a flow basis. When I return to the U.S. I will convert

> the total amount of euros I used into dollars using the then current

> exchange rate and I will deposit this amount of dollars into my

> relative's bank account here.

> How would you handle this in Quicken?

If you keep track of what you're spending your euros on, when you get
home and make the payment you could credit (reduce) cash ($US) and
debit (increase) various vacation-related expenses.

If you don't keep track of what you're spending your euros on, just
keeping track of the total euros, the reduce cash and credit whatever
category seems best to you. Maybe make a new category called "Trip to
Europe."

Tom Young
Tom Young

Posted by Just me on June 14, 2009, 7:05 pm

Please log in for more thread options

I'll be keeping track of expenses as I go and I'm planning to follow
your first suggestion.

Thanks for your response.

George
gearlnospamno@nospamcomcast.net

wrote:

>> I am planning a trip to Europe. To facilitate access to money, a

>> relative who lives there has offered to provide me with euros in a

>> lump sum when I get there. If I need more euros they will provide me

>> with more on a flow basis. When I return to the U.S. I will convert

>> the total amount of euros I used into dollars using the then current

>> exchange rate and I will deposit this amount of dollars into my

>> relative's bank account here.

>> How would you handle this in Quicken?

>If you keep track of what you're spending your euros on, when you get

>home and make the payment you could credit (reduce) cash ($US) and

>debit (increase) various vacation-related expenses.

>If you don't keep track of what you're spending your euros on, just

>keeping track of the total euros, the reduce cash and credit whatever

>category seems best to you. Maybe make a new category called "Trip to

>Europe."

>Tom Young

Posted by Han on June 14, 2009, 7:44 pm

Please log in for more thread options

> I am planning a trip to Europe. To facilitate access to money, a

> relative who lives there has offered to provide me with euros in a

> lump sum when I get there. If I need more euros they will provide me

> with more on a flow basis. When I return to the U.S. I will convert

> the total amount of euros I used into dollars using the then current

> exchange rate and I will deposit this amount of dollars into my

> relative's bank account here.

> How would you handle this in Quicken?

> Thanks!

> ggeinec

> George

> gearlnospamno@nospamcomcast.net

Currently the exchange rate is close to $1.40/€. But beware, many
expenses in Europe cost numerically the same in € as they cost here in $.
Also be aware of pickpockets, especially in the Paris Metro. I lost €150
just like that. Luckily there were no other useful things in that wallet
at the time. Furthermore, inquire about tipping where you go. The 15-
20% one is accustomed to in NY City is very excessive over there. Often
a few coins or up to 4 or 5% is plenty.

--
Best regards
Han
email address is invalid