Il 27/03/21 22:54, David Cousens ha scritto:
On the mutual fund purchase. It is most likely that the fund will > have paid US taxes on its earnings so you are unlikely to be liable
> for any tax in the US so there is likely little value in maintaining
> US expense or income accounts. I base
Andrea,
Unfortunately I do not think that there is "One true way to do it in
accounting". There are certainly some basic principles but it is
particularly difficult when your operations are in several countries. My
step son has a similar problem as he is a pro soccer player and has played
interna
Hello, David.
Finally had time to go over your explanation with the books open, I'm
adding my observations inline.
If I read it correctly you will have paid originally in totally €320.44 for
the laptop (€313.21 cost of the laptop + US$7.23 shipping/commission fees,
which would have been a t
Il 24/03/21 22:46, David Cousens ha scritto:
Hi Andrea,
OK it is only Euro and USD which makes it simpler. my apologies for the
delay in replying. I was away from home yesterday,
No worries, this is my personal accounting: it can wait when we all have
time. Now it's late here, I'll go over
Hi Andrea,
OK it is only Euro and USD which makes it simpler. my apologies for the
delay in replying. I was away from home yesterday,
If I read it correctly you will have paid originally in totally €320.44 for
the laptop (€313.21 cost of the laptop + US$7.23 shipping/commission fees,
which would
Andrea,
It is not clear to me where the $6.54 in the paypal:usd account comes from.
I was assuming it was an existing balance at the time you made the purchase
in euros which resulted in Paypal transferring money from your USD paypal
balance to cover the purchase. In that case there is no expense
Il 22/03/21 21:25, David Cousens ha scritto:
In that case just credit paypal:usd for US$5.56 and debit the paypal:eur
account for the relevant amount in euros at the date Paypal made the
transfer (Paypal will usually have the exchange rate somewhere in the
massive CSV file if you download their
Andrea,
The simplest way is to reflect the transfer that Paypal made from your USD
Paybal balance to your EUR Paypal balance in your books at the date they
made the transfer. I take it you use asset accounts to record your Paypal
transactions from your description but if you use Liability accounts
Hi.
Each year I open a new book and carry over asset / liabilities, also
factoring in the year end results.
So, all Income / Expenses accounts get closed by posting an entry with
the total amount to a "Results" account or rather to "Results:EUR",
"Results:USD" and so on.
These new account
