Hi Jim. I'm a private individual, not a company. Thus, I don't need an accountant and my jurisdiction doesn't matter in what I'm doing: it's my personal finance tool, which I use to track my income/expenses and total wealth. With "would that work?" I was trying to ask if I was missing something and if my assumption was correct. Regarding the "actual value", it's the "market value" which I'm referring to. Related to this, I'd like to understand if the market value of my VT stocks will be reflected in GnuCash when I update the quotes via Finance::Quote, or not. I understand that the VT purchase transactions won't and cannot be changed in value because I bought VT at a specific date/time and I paid what the price/value was back then. I'm curious to understand if GnuCash can reflect today's "market value" in some way or not.
F. https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com Am So., 3. Nov. 2024 um 21:50 Uhr schrieb Jim DeLaHunt < list+gnuc...@jdlh.com>: > Boniforti: > > On 2024-11-03 02:25, Boniforti Flavio wrote: > > ...As of now, I have just put all the CHF Cash in that account. > > As I've added CHF in 5-6 different transactions and in between those I > have > > also converted to USD and bought VT stocks, would I need to zero the "CHF > > Cash" account, then add each CHF wire transfer transaction individually? > > And then for each currency conversion I did, create the according > > transaction between "CHF Cash" and "USD Cash" accounts, after which I > would > > add the VT purchase transactions - right? > > If I do it like that, I could "hide" the ForEx trading fees by simply > > adjusting the conversion rate (like if I had converted CHF 1'000.- and I > > got USD 1'140.- and paid 1 USD fees, I could just "ignore" the fee and > > adjust the conversion rate so that it gives CHF 1000 --> USD 1140). Would > > that work? > > Would this process also work when buying VT stocks? In that case, I buy a > > fixed amount of VT stocks at the VT price, and I could "hide" the fees by > > adjusting the stock unit price?! > > I must admit that I am not following everything you are talking about here. > > However, I read you asking, "would that work?". There are two people who > can answer that: you, and your accountant. It is up to you to decide > what information you want your bookkeeping to provide for you. Do you > care about knowing how efficient your CHF-USD transactions are, or do > you not care? Are you willing to do more complex data entry to track > extra information, or not? And, your accountant can give you insight > about what information is helpful, or even required, in your situation > and jurisdiction. > > Maybe people on this list will also give you answers to the questions > above. But if not, one reason is that we are not the right people to > answer such questions. > > > What's not clear to me at this point is: if I will have 1000 VT stocks, > > where will the actual value be reflected/calculated? Is it depending on > > manual retrieving the VT quotes via Finance::Quote? > > Tell us what you mean by "actual value". > > Do you mean the "current market value" of those shares? If so, it varies > over time. The price at which you purchased the shares becomes one data > point at one time for values. The quotes retrieved via Finance::Quote > become other data points at other times. GnuCash's "Price Database" will > let you see all the price data points which GnuCash has. > > Or, do you mean the "cost basis"? In that case, I believe GnuCash > determines it by the transaction at which you buy the shares. If the > transaction says that you paid 1,000 CHF for 100 shares of VT, then the > cost basis of that lot of VT shares is 100 CHF/share. If the transaction > says that you paid 1,140 USD for the 100 shares, then the cost basis is > 114 USD/share. Can you include the cost of making the purchase, such as > broker commissions or foreign exchange fees, in the cost basis? That > may be regulated by the rules for calculating capital gains in your > jurisdiction. That makes it a good question to ask your accountant. > > I hope this is helpful. Best regards, > —Jim DeLaHunt > > > _______________________________________________ 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.
