Dividends in different currency from security

English
1

Hi,

First, I apologise for having to post in English - my German is not good! I am new to PP and am very impressed so far and am seeing if it will work for me.

I have a problem with a popular ETF (VWRL.L) which is based in GBP (prices, etc.). However, the dividends are paid in USD. My broker gives me a GBP cash account and a USD cash account so the dividends go straight in the USD cash account.

However PP, when I want to enter a dividend for a GBP security into a USD cash account insists I enter the dividend in GBP (before it converts it into USD)! So you see I am converting first to GBP (and possibly introducing small errors) for no reason.

Am I misunderstanding? Do I have PP setup incorrectly for this situation?

Many thanks for your help
Michael

2

Hey Michael,
you are correct. The security has a fixed currency. Maybe it makes sense to leave the dividends in GPB.

I would not bother small converting errors as the exchange rate between the two currencies varies constantly anyway.

3

Hello Michael,

or you could create a second cash account in PP with currency USD. And when entering dividends for the ETF you select your USD account in the dividend dialog.

I think all in USD payed dividends are on your USD bank cash account. And if needed you transfer (and convert) it from USD to GBP.

Using this approach you also have the correct account balances of both accounts in PP.

Ulrich

4

Thank you both for your replies.

I have already created a USD cash account, and select that in the dividend dialog. The problem is because the security is GBP, it expects the dividend per share to be GBP before it converts it back into USD. So the USD -> GBP -> USD conversion is happening for no reason.

I was thinking about it over night, and think I will just have to enter the total dividend payment in USD (to override the conversion) and completely omit the dividend per share amount. This means I lose the extra dividend per share information (which I guess is always available on the security website) but get an accurate cash balance in PP.

Mike

5

Hi,

or you track the dividend amount in GBP in the comment field for the transaction.

Ulrich