Ah ok - that's fine with me then. F. https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com
Am Mi., 6. Nov. 2024 um 22:50 Uhr schrieb sunfis...@yahoo.com < sunfis...@yahoo.com>: > No. $6 (real amount) and 13 GBP (another real amount) are entered. The > ratio between these two numbers will remain the same always. > > But if GnuCash reports the price as 0.4615384615 and your broker says it's > .46, are you going to worry that your books don't match your broker? > > David T. > On Nov 6, 2024, at 10:45 PM, Boniforti Flavio <bonifort...@gmail.com> > wrote: >> >> Hi David. >> I'm replying to your feedback as it's less text :-) I'll reply to >> Richard's afterwards as well - thanks to you both already! >> >> And a final note: GnuCash never stores the exchange rate. It calculates >>> it from the two (actual) amounts include in the transaction. Focusing on >>> the number there (and whether it matches what the broker says the share >>> price is) will result in dissatisfied experiences since it never matches. >> >> >> Are you saying that if I enter a transaction which involves currency >> exchange and I look at that transaction in two months, the numbers won't be >> the same anymore? >> >> https://www.instagram.com/boniforti_music >> https://soundcloud.com/boniforti_music >> https://bonny-j.bandcamp.com >> >> >> Am Di., 5. Nov. 2024 um 05:23 Uhr schrieb sunfis...@yahoo.com < >> sunfis...@yahoo.com>: >> >>> Note: I am not an accountant, and am based in the US, whose laws will >>> differ from Switzerland's. >>> >>> I agree that the Dividends account belongs under Income. >>> >>> As an overview, Richard, I'd point out that if you buy something for >>> 1000, and 10 of the cost is for tax (or delivery, or service charges, or >>> whatever), your cost is still 1000. While it may be interesting to identify >>> those specifics, for personal books, it is a lot of work that has little >>> benefit. >>> >>> In specific: >>> >>> Many forex outfits I encounter don't even tell you their fees. They >>> simply tell you the final exchange rate you receive. To track the fees, >>> you'd have to know the inner workings of each firm and calculate them >>> yourself (or know the rate they are getting, and calculate the difference) >>> . Personally, it's not important information for the amount of work >>> involved. (This is similar to the recurring discussion about mortgage >>> payments that do not match) >>> >>> Similarly, with the stock, you can say that you bought that stock at >>> 9.50 a share, but if you don't recoup the service charge, you'll still lose >>> money when you sell at 9.75 a share. Moreover, in GnuCash, if you use the >>> lot feature to manage capital gains, it will mis-calculate the gains if you >>> track the service fees separately. At least, that was my experience when I >>> used the lot feature some years back. (I stopped using it for various >>> reasons) >>> >>> And a final note: GnuCash never stores the exchange rate. It calculates >>> it from the two (actual) amounts include in the transaction. Focusing on >>> the number there (and whether it matches what the broker says the share >>> price is) will result in dissatisfied experiences since it never matches. >>> >>> David T. >>> On Nov 5, 2024, at 3:59 AM, R Losey <rlo...@gmail.com> wrote: >>>> >>>> Hello. >>>> >>>> I don't think that the "USD Dividends" would be under IBKR - that should be >>>> somewhere else, probably under "Income" somewhere. When you are paid a >>>> dividend, it either goes into the "Cash" fund, or else it is reinvested and >>>> more stock is purchased. If the dividends are invested, you'd have a >>>> "purchase" of that stock. For example, if you received $100 in dividends >>>> and it purchased 5 shares of VT stock (using simple numbers to keep it >>>> easy), you have a transaction in IBKR-VT that purchased 5 shares for $100 >>>> and the "other" account would be an income account -- for me, it goes in >>>> "Income:Investment Income:Taxable:Dividends". >>>> >>>> Other comments -- see below, but I do want to note (as others have) that I >>>> am not an accountant. >>>> >>>> >>>> On Sun, Nov 3, 2024 at 4:25 AM Boniforti Flavio <bonifort...@gmail.com> >>>> wrote: >>>> >>>> Hi Richard. >>>>> I think I was already going that route --> >>>>> [image: image.png] >>>>> >>>>> 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? >>>> >>>> >>>> >>>> If each wire transaction is separate, there is the chance that the exchange >>>> rate would be different, so I would enter them as different transactions. >>>> >>>> But unless you take all of the funds from the CHF Cash account, it doesn't >>>> need to be zeroed. Assuming that there is $1000 in CHF Cash and $1000 in >>>> USD Cash, you could remove any or all of the CHF Cash, and then add the >>>> appropriate USD amount to the USD Cash account. >>>> >>>> Next, you would have a transaction for the purchase of VT stock, with the >>>> funds comes from the USD Cash account. >>>> >>>> >>>> >>>> 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? >>>> >>>> >>>> >>>> That sounds right to me. >>>> >>>> >>>> >>>> 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? >>>> >>>> >>>> >>>> It may "work" but it would probably be more accurate to have a split >>>> transaction with that shows the CHF 1'000 decreasing by 1'000 and then the >>>> USD account going up by 1'141 with a USD 1 decrease assigned to the account >>>> where you track the exchange fees. That way the CHF-to-USD rate would be >>>> correct, and you could see what you are paying for exchange rates. >>>> >>>> >>>> >>>> | 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?! >>>> >>>> Again, I suppose you **could** do that, but I usually put the fees in >>>> separately. If I spend $1000 purchasing a stock that is worth $998, the >>>> other $2 is assigned to my account for Investment Fees >>>> ("Expenses:Investment:Fees") >>>> >>>> >>>> >>>> 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? >>>> >>>> >>>> >>>> Yes, if you are getting quotes via the stock quote your VT value will >>>> reflect the last price update you retrieve. It will NOT change your >>>> transaction. However, by "hiding" the fee as you propose, it will look >>>> like you've lost money when you have not. See the following example: >>>> >>>> You spend $100 to purchase 10 shares of VT, but there is a fee of $5. The >>>> reality is that you paid $95 for those 10 shares, or $9.50 a share... >>>> however, by "hiding" the fee in the price, it looks as if you paid >>>> $10/share. The next day, the price goes up to $9.75 -- you have actually >>>> gained $2.50 ($0.25 gain on 10 shares); however, in GnuCash, it will look >>>> like the price has "dropped" from $10 to $9.75 and that you have lost $0.25 >>>> per share). >>>> >>>> >>>> >>>> Thanks, >>>>> F. >>>> >>>> >>>> >>>> I hope this is helpful... >>>> >>>> >>>> >>>> >>>>> Am Mo., 21. Okt. 2024 um 19:32 Uhr schrieb R Losey <rlo...@gmail.com>: >>>>> >>>>> >>>>>> -- >>>>>> ------------------------------ >>>>>> >>>>>> Richard Losey >>>>>> rlo...@gmail.com >>>>>> Micah 6:8 >>>>> >>>>> >>>>> >>>>> _______________________________________________ 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.
