In all examples I've seen so far with regards to the handling of foreign currencies the user is physically moving money from one currency to another (e.g. an online transfer) where an actual exchange occurs. What about the case where users have to do reports for different countries in their own respective currency (e.g. Japan in JPY and US in USD). I must report all income in both Japan and the US (thanks IRS!) so I need a way to convert my books between USD and JPY.
For example say I have an Expenses:Advertising account with account currency USD and book currency USD. I can deduct these as business expenses both on US and Japanese reports, but I must convert them all to JPY to do so. Is there any way of doing this within GNUcash? Until now I've just been creating an Income Statement in USD and copying this to a spreadsheet and converting from there (not ideal). I see in the Income Statement options, I can change the Report's currency to JPY, but what is going on in the background here? Are all transactions converted per date, or just a single rate used on the totals? Based on what I can see at the bottom of the report, it appears to use the most recent rate limited by the report ending date (e.g. 12/31/2024), which would not be a standard way to report this. The two options I was told from a Japanese accountant to use would be 1. (Yearly Average TTS + Yearly Average TTB) / 2 from a Japanese bank (e.g. https://www.murc-kawasesouba.jp/fx/year_average.php) 2. (Preferred) Use exchange rates specific to each transaction. Thanks in advance for any advice. _______________________________________________ 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.
