Glossary
Base currency
Your base currency is the single currency all totals are reported in. Accounts can be held in any currency; each balance is converted to the base currency before net worth, budgets and reports are calculated.
Choosing a base currency is a reporting decision. The amount recorded on a transaction stays in that account's own currency, exactly as it happened, and Chillar's converts at the moment it computes a total.
Changing your base currency later is safe: it changes the unit your answers arrive in, and leaves the facts underneath alone.
Related terms
- Net worthNet worth is everything you own minus everything you owe. In a personal finance app it is the sum of every account balance, converted to one currency, with debts counted as negative balances.Read
- Cash flowCash flow is the money that came in minus the money that went out over a period. Positive cash flow means you finished the period with more than you started; negative means you drew down savings.Read
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