Hi.
Each year I open a new book and carry over asset / liabilities, also
factoring in the year end results.
So, all Income / Expenses accounts get closed by posting an entry with
the total amount to a "Results" account or rather to "Results:EUR",
"Results:USD" and so on.
These new accounts get also closed with a net result of the year, to
"Capital:EUR", "Capital:USD", etc.
Opening the new book is just a matter of posting initial entries from
"Capital" to the relevant "Asset" / "Liability" account.
At the end of 2019, I bought a laptop which I paid in EUR on a chinese
site. It was delivered in 2020, so I carried the credit forward, no problem.
Since it had a defective key, I got the money back after returning it
and THIS is where things begin to get interesting: most of the money
came from the reversal of the original Paypal transfer in EUR, then a
small part to cover the shipping was paid as a direct money transfer
(because the amount on the reversal cannot be changed) also on Paypal
but this time in USD.
So now we have:
paypal:eur / expenses:EUR:IT) -313.21 (I'm skipping the credit step)
paypal:eur / expenses:EUR:IT) +313.21
paypal:usd / expenses:USD:IT) +6.54
I then made a small payment in EUR from Paypal without enough money, so
Paypal automatically converted part of the USD to EUR:
paypal:usd / paypal:eur) -5.66
Now, the fun part: the "Asset:USD" account shows +6.54 because of course
that's all there is for "Expenses:USD:IT" and no other account has
income or expenses in USD.
By the same token, the "Asset:EUR" has an equally small effect due to
the transfer.
I know I could post screenshots but:
1) the account names are in Italian (not helpful)
2) they're very long, so they'll be clipped
3) I would have to make a composite image anyway
Question is: how do I post the opening of USD accounts for this year?
Paypal:USD only has 0.88 left on it.
Can I just post this entry and leave the rest under "Asset:USD"?
asset:usd / paypal:usd) -0.88
If not, where should the difference be posted?
I'm especially interested in understanding this because in 2021 I bought
shares in a USD mutual fund, so I expect this kind of fun to increase :D
Thanks,
Andrea.
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