Hello David We receive and pay for a multitude of currencies. This made life complicated for a small business so we decided to use a FX service - we use OFX because we managed to get to them in their early days and were offered a special continuing deal. However, there are quite a few others too - TransferWise (now just called Wise) were probably the initiators in this area. The way it works is that we tell them what we need to pay in FX, we pay in our local currency and the bill is paid to the supplier in their currency. On the receipt side, the client pays into a bank account local to them, the OFX service notifies us of the receipt, and then we can either convert to our local currency immediately or at some time over the next 2 months when we wish - this has an advantage (generally) in being able to get a more favourable exchange rate and thus a better return. The service costs less than banks - they provide a better exchange rate and have lower fees - and our accounts are all in local currency. We just adjust our invoices/bills according to the rate received/paid. Easy peasy. I'm not sure that will help you but it just might! Cheers Hop
On 30/11/23 11:05, David Kirkby wrote: On Wed, 29 Nov 2023 at 23:28, Adrien Monteleone < [1]adrien.montele...@lusfiber.net> wrote: You can set your bank accounts nested however you want. GnuCash doesn't care as there is nothing special about such accounts. Gnucash *does* care about types Accounts Receivable and Accounts Payable. (regardless of what you name them) But exactly how these should be structured is still to be determined. Regards, Adrien Is it possible, and so how, to move the A/R USD account directly under the assets and not under the GBP account? When I set up accounts like that, the P&L and trial balance agreed with each other. I am still puzzled it’s now possible to delete a non-GBP transaction that has been posted. I think that’s a new problem , within the last day or two. I would need to go back to an earlier version to be sure. I charge customer extra for non-GBP transactions, anti always say GBP will be cheaper. They certainly do cause an extra overhead with software issues, accounting issues, the need to maintain 3 price lists. A few years ago I reported a bug to the bug tracker related to non-GBP currencies. I think it was a report that was wrong, but that issue got resolved. Dave. On 11/29/23 5:05 PM, David Kirkby wrote: On Wed, 29 Nov 2023 at 23:02, David Kirkby < [2]drkir...@kirkbymicrowave.co.uk> wrote: But think about it, the fact one is supposed to set bank accounts that way, probably implies one needs to do the same with A/P and A/R. Dave. I meant to say “thinking about it “ not “think about it “ _______________________________________________ gnucash-user mailing list [3]gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: [4]https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list [5]gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: [6]https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. References 1. mailto:adrien.montele...@lusfiber.net 2. mailto:drkir...@kirkbymicrowave.co.uk 3. mailto:gnucash-user@gnucash.org 4. https://lists.gnucash.org/mailman/listinfo/gnucash-user 5. mailto:gnucash-user@gnucash.org 6. https://lists.gnucash.org/mailman/listinfo/gnucash-user _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
