Not quite, on two points.
Not all securities are held in a brokerage account. Until a few years ago
companies would issue paper certificates to share holders who held stock
directly but nowadays those shares are tracked by clearing houses such as State
Street Bank. The latter is common for stocks held in company-run dividend
reinvestment programs.
The other is that it's possible to have stocks denominated in more than on
currency in a brokerage account. Non-currency commodities derive their trading
currency from the first parent account t denominated in a currency. For example
one might have the following structure:
Assets
Investments
Charles Schwab
Stock-USD
AAPL
Stock-CAD
RY.TO
BKE Stocks-USD
ABBV
Where the two accounts Stock-USD and Stock-CAD are of type ASSET denominated in
the currencies indicated in their names. GnuCash will try to price AAPL in USD
and to price RY.TO in CAD. The BKE Stocks-USD has stocks that aren't in a
brokerage account. BKE stands for for book-keeping entry, the term used in US
investment circles for shares whose ownership is tracked by a clearing house.
The term for stocks in a brokerage account is "held in street name" because the
brokerage is the shareholder of record and takes care of passing through
dividends and shareholder proxy votes to their customers.
Regards,
John Ralls
> On Apr 27, 2022, at 8:56 PM, David Carlson <david.carlson....@gmail.com>
> wrote:
>
> Securities (stocks) are held in brokerage accounts which reside under
> assets. The brokerage account determines the currency for it's securities
> and transactions. GnuCash assumes that a given brokerage account deals in
> only one currency, so another brokerage account is needed for an additional
> currency. The same security can be held in multiple brokerage accounts.
> See the help and tutorials for examples of accounts and transactions.
>
> Prices get entered into the price data by several means including actual
> prices from transactions, prices downloaded from the Internet or imported
> from a file, or even manually entered into the database.
>
> Reports can pick prices out of the price data by different algorithms
> depending on your choice. If there is no price for a given report date
> GnuCash will use the method you choose to pick or calculate a price for the
> report.
>
> I am deliberately not being detailed because there is a huge universe of
> choices depending on your needs. If you have specific questions ask them
> here to get specific answers.
>
> On Wed, Apr 27, 2022 at 10:12 PM Phillip Duff <phil.du...@gmail.com> wrote:
>
>> Hi,
>>
>> I cannot see where you set the currency for a stock account. I have stocks
>> in multiple currencies, but the currency/secuity field seems dual purpose,
>> therefore assumes the stock is in base currency, which is not always the
>> case.
>>
>> Anyone know how to do it?
>>
>> Also, I can’t fund in the documentation whether the system uses the latest
>> price/currency in the price database or does it require the price to exist
>> for the day on which it is being calculated. Example: If the latest price I
>> have in the price database is on 14-MAr will the system use this price to
>> calculate value on the 31-Mar
>>
>> Cheers Phil
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>
>
> --
> David Carlson
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