Thank you John for your reply. Yes, I think I'll end up using the manual adjustment of the Dec 31 price as you mentioned until I can figure out a way to convert individual transactions more efficiently.
Thanks again. On Sun, Feb 16, 2025 at 3:04 AM John Ralls <jra...@ceridwen.us> wrote: > > > > On Feb 14, 2025, at 19:58, Bo Buckley <topherbuck...@gmail.com> wrote: > > > > 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. > > Which rate is used depends on the price source you pick in the commodities > tab of report options. You can manually create a year-average rate on 31 > December using the price editor and set the price source to Closest to > report date (the default). > > Ideally you’d use the splits’ JPY values (assuming that all of your > Japan-taxable transactions begin in a JPY asset account and so have a JPY > transaction currency). Unfortunately even the transaction report doesn’t > provide that. > > Regards, > John Ralls > > > _______________________________________________ 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.
