Re: Trading Accounts

Tue, 13 Feb 2018 01:42:26 -0800 

Good advice David.
I have always just used my broker reports for tax purposes.  I guess I never really relied on GC for such reporting.  I use GC to keep track of my day-to-day transactions; inputing from paper receipts as I receive them. Also reconciling bank and brokerage accounts at month end. 

Les
On 02/12/2018 08:27 PM, David Carlson wrote:

Be sure to compare what Gnucash generates to what your broker reports 
to the government.  Gnucash has trouble calculating the net gain that 
the IRS wants to see.



Many of us still use spreadsheet s to compare to the brokerage reports 
that are sent to the IRS.


David C


On Feb 12, 2018 2:27 PM, "Les" <lellio...@gmail.com 
<mailto:lellio...@gmail.com>> wrote:


    I ran a balance sheet for 2016 and compared the two. Everything
    looks the same until I reach the equity account.  Here is where
    the difference occurs (and I completely missed it initially).  In
    the GC file without the use of Trading Accounts, I have unrealized
    gains, whereas in the GC file using Trading Accounts, I have
    trading gains.

    I think I need to start using Trading Accounts, if I want to
    obtain a more accurate set of accounts.

    For what it is worth, I have been relying on my brokerage accounts
    to determine gains and losses for tax purposes.

    I am thinking about copying my production GC file to my test
    computer and run balance sheet and income and expense for ye 2017
    and compare.  I think it will be significant.


    Les
    p.s.: I did read the the link from Christopher.


    On 02/12/2018 12:05 PM, David Carlson wrote:

    If you read Christopher's links, they go into the theory behind
    the development of trading accounts.

    I personally do not need them for my use, so I am not conversant
    with how they work.

    I think that you may need them, based on the fact that you are
    looking into using them, but I cannot help with details.

    Perhaps another user that does use them can chime in (hint Hint)

    David C

    On Mon, Feb 12, 2018 at 11:12 AM, Les <lellio...@gmail.com
    <mailto:lellio...@gmail.com>> wrote:

        I use, in addition to USD. AUD, HKD, CAD, CNY and SGD.  I buy
        in tranches for average cost.  So, not sure that means I have
        complicated trades but I make sure I never have any orphan
        accounts. I checked my test file for capital and it did not
        list any. Although, at the bottom of my accounts list, there
        is a list of currencies and exchanges with totals for each.
        But, again, there isn't any difference in income and expenses.

        Les

        On 02/12/2018 08:18 AM, David Carlson wrote:

            UnfOrtumately I cannot read the article that zchristofer
            cited from my
            clunky Tablet ant tablet really messes up mystery
            composition skills.

            I think that if you have always correctly calculated
            every capital gain in
            every closing transaction and never had any ambiguously
            matched lots there
            will not be any overall difference with or without
            trading accounts.

            I would guess trading accounts help the most for users
            with more
            complicated trades.

            I am sure that you would need to drill down to the
            capital gains and
            incomes in closing transactions to see where the  T A
            could make a
            difference.

            David C



            On Feb 12, 2018 6:53 AM, "Christopher Lam"
            <christopher....@gmail.com
            <mailto:christopher....@gmail.com>>
            wrote:

                Hi Les

                Really interesting question, with a simple and a
                complicated answer.

                Simple answer: I think Trial Balance would differ if
                you deal with
                multiple currencies or stock (i.e. multiple
                conversions with differing
                dates and prices).

                Complicated answer:

                https://www.mathstat.dal.ca/~selinger/accounting/tutorial.html
                
<https://www.mathstat.dal.ca/%7Eselinger/accounting/tutorial.html>

                https://www.mathstat.dal.ca/~selinger/accounting/gnucash.html
                
<https://www.mathstat.dal.ca/%7Eselinger/accounting/gnucash.html>

                C

                On 12/02/18 20:41, Les wrote:

                    I have a "test" laptop with GC 2.6.17 running the
                    latest Linux Mint.  I
                    opened GC and tried using Trading Accounts, did
                    check and repair, noted the
                    totals of assets, liabilities, income and expense
                    before and after.  There
                    was no difference.  I then ran a Income and
                    Expense report for year 2016
                    (which is the same as my production GC and
                    compared the two.  Again there
                    was no difference in totals between the two GC files.

                    So, exactly what does Trading Accounts actually
                    do? I noticed that when
                    viewing a stock transaction using auto-split
                    view, there are added lines
                    showing trading: currencies and trading: exchange
                    and stock symbol, that
                    does not appear without trading accounts.

                    Thanks,

                    Les


                    On 02/12/2018 04:41 AM, David Carlson wrote:

                        It would be more fun to make a test copy of
                        an existing file! 😁

                        David C

                        On Feb 12, 2018 4:13 AM, "Les"
                        <lellio...@gmail.com
                        <mailto:lellio...@gmail.com> <mailto:
                        lellio...@gmail.com
                        <mailto:lellio...@gmail.com>>> wrote:

                             Thanks, Adrien, David & Christoph for
                        your replies.  I think
                             opening a new GC file and testing
                        Trading Accounts is a good idea.

                             Regards,

                             Les


                             On 02/12/2018 01:40 AM, Christoph R wrote:

                                 And run “Actions -> Check & Repair
                        -> Check & Repair All” to
                                 add the needed splits to existing
                        transactions.

                                 Gruß,
                                 Christoph

                                     Am 12.02.2018 um 01:27 schrieb
                        David Carlson
                                     <david.carlson....@gmail.com
                        <mailto:david.carlson....@gmail.com>
                                   
                         <mailto:david.carlson....@gmail.com
                        <mailto:david.carlson....@gmail.com>>>:

                                     I think that if you want to stop
                        using trading account s
                                     it is difficult to
                                     turn them off.

                                     I would set up a test file to
                        try them on until you decide
                                     whether you like
                                     them.

                                     David  C

                                     On Feb 11, 2018 5:39 PM, "Adrien
                        Monteleone"
                                     <adrien.montele...@gmail.com
                        <mailto:adrien.montele...@gmail.com>
                                   
                         <mailto:adrien.montele...@gmail.com
                        <mailto:adrien.montele...@gmail.com>>>
                                     wrote:

                                         Yes, you can add trading
                        accounts (or any other
                                         accounts) as needed to your
                                         current file.

                                         Regards,
                                         Adrien

                                         On Sun, Feb 11, 2018 at 4:18
                        PM, Les
                                         <lellio...@gmail.com
                        <mailto:lellio...@gmail.com>
                        <mailto:lellio...@gmail.com
                        <mailto:lellio...@gmail.com>>>
                        wrote:

                                             I have been using GC for
                        several years, and
                                             although I trade stocks, I
                                             have never used the
                        "Trading Accounts" option.
                                             Can I just start using

                                         it,

                                             or would I need to start
                        a new GC file?

                                             Thanks,

                                             Les

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