Foreign currency accounts and transactions.

[Derek Atkins]

Adam Funk <a24061 at yahoo.com> writes:

> Is it necessary to "Edit Exchange Rate" for every transaction that
> isn't in the main currency?  Or should it pick up the previous value,
> or the value from the Price Editor?

You need to set it for every transaction.  It SHOULD happen
automatically, but apparently there are bugs where this does not
happen properly in all cases.

> If I have to "Edit Exchange Rate" every time, can I configure gnucash
> to remind me, so I don't get transactions that cost USD45 in one
> account and GBP0.00 in another?

See above..

> How in the world can the accounts balance when I forget to E-E-R?

The TRANSACTION is balanced, which is all GnuCash is checking at the
moment.  However it's not balancing in terms of changes-in-capital.
But GnuCash doesn't check that now.

> Should a bank account in a foreign currency have account type Bank or
> Currency?

Bank.  You should never use Currency type accounts, and indeed in 2.0
those accounts no longer exist.

> Thanks,
> Adam
>
>
> [1]
> https://lists.gnucash.org/pipermail/gnucash-user/2004-November/011992.html

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available