Hi Mike, Lukas,
I am using trading accounts since multiple years and can confirm that the UI
can be pretty cumbersome. I got used to it. Besides the regular problems in
getting the transactions straight it works pretty well
Cheers,
Christoph
> Am 22.01.2021 um 06:13 schrieb Mike Alexander :
>
Personally I'd stick with 1 book = 1 currency, and record all transactions
in their home currency only. I'd only record the same transaction in both
books if they're a formal currency transfer.
A simple issue is balance sheet: if you hold stocks eg TSLA in your USD
account, and ANA from your Japan
The issue is when currency fluctuates, you have capital gains or losses,
depending on whatever you consider to be your home currency. These
gains/losses are unrecorded (but not unrealised). C
On Fri, 22 Jan 2021 at 04:36, w...@theprescotts.com
wrote:
> I am probably missing something here.
>
> I
When I implemented trading accounts several years ago they were a bit
controversial. Some people thought they were more trouble than they
were worth and argued that they should be an opt-in choice. One of the
initial design goals was that if you didn't turn them on nothing would
change in the
https://www.accaglobal.com/us/en/technical-activities/technical-resources-search/2015/march/frs102-foreign-currency-translation.html
This is all I can offer in supporting information. Experienced users can
undoubtedly offer more.
On Fri, 22 Jan 2021, 12:36 pm w...@theprescotts.com,
wrote:
> I a
I am probably missing something here.
I have bank accounts in two countries and regularly transfer money between
them. Whenever I move money, I record the transaction and the amount for each
side of the transaction. Gnucash automatically makes an entry in the Price
Database recording the conver
Hi Christopher,
This is very sad. Sad for various reasons.
I went over these documents previously (but did not read them thoroughly).
My takeaway is:
* Storing the conversion rate per transaction makes the accounting
equation as a function of time inconsistent (but it is consistent for
each s
Multicurrency is a major minefield.
Start from https://www.mathstat.dal.ca/~selinger/accounting/tutorial.html
and finish with
https://www.mathstat.dal.ca/~selinger/accounting/gnucash.html for the
background on trading accounts.
>From discussion with accountant, it would seem that the safest approac
Hi Mike,
On 2021-01-21 02:24, Mike Alexander wrote:
On 19 Jan 2021, at 20:08, Lukas Haase wrote:
So I got recommended using trading accounts. But suddenly all my
previous multi-currency transactions get a small grey box with a cross
(hinting the transaction is inconsistent).
How do I best d
On 19 Jan 2021, at 20:08, Lukas Haase wrote:
So I got recommended using trading accounts. But suddenly all my
previous multi-currency transactions get a small grey box with a cross
(hinting the transaction is inconsistent).
How do I best deal with this?
Is it possible to keep my old multi cur
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