gnucash-docs master: Multiple changes pushed
J. Alex Aycinena
alex.aycinena at code.gnucash.org
Mon Feb 24 19:57:12 EST 2014
Updated via https://github.com/Gnucash/gnucash-docs/commit/1541cc7e (commit)
via https://github.com/Gnucash/gnucash-docs/commit/f856227b (commit)
from https://github.com/Gnucash/gnucash-docs/commit/d0c6c3d0 (commit)
commit 1541cc7eed70b1fba3e91147bebd31d4347260c0
Author: Alex Aycinena <alex.aycinena at gmail.com>
Date: Mon Feb 24 16:56:42 2014 -0800
Additional typo corrections
diff --git a/guide/C/ch_currency.xml b/guide/C/ch_currency.xml
index 459edf8..d3624e9 100644
--- a/guide/C/ch_currency.xml
+++ b/guide/C/ch_currency.xml
@@ -184,7 +184,7 @@ Note: the currency of each account is shown in parenthesis.
<application>&app;</application> can be used as a hub for all sorts
of personal metrics, in addition to finances.</para>
- <para>The drawback with this second methgod is that you cannot define exchange rates for
+ <para>The drawback with this second method is that you cannot define exchange rates for
the dummy currencies to convert them to <acronym>ISO</acronym>
currencies. If you want to do that, you really should use the first
method.</para>
@@ -463,7 +463,7 @@ Note: the currency of each account is shown in parenthesis.
</literallayout>
<para>First you need to transfer some money ($10,000) to Jamaica, and
- you use your normal US bank account (with balance of $100,000) for
+ you use your normal US bank account (with a balance of $100,000) for
that. The bank gives you an exchange rate of USD 1 = JMD 64, but charges
you USD 150 to transfer the money.</para>
@@ -957,7 +957,7 @@ Buy Stocks
</itemizedlist>
<note>
<para>Again these examples are not intended as valid and
- accurate advice. They are only to be considered as a example for
+ accurate advice. They are only to be considered as an example for
the techniques used in <application>&app;</application>, and not as Investment Advice.
Please consult a proper financial advisor for more information
regarding international investments/loans.</para>
commit f856227bbb9e631d189778c797119e24b597eb2f
Author: Alex Aycinena <alex.aycinena at gmail.com>
Date: Mon Feb 24 16:29:36 2014 -0800
Various typo corrections and minor editorial changes
diff --git a/guide/C/ch_currency.xml b/guide/C/ch_currency.xml
index 141d8ea..459edf8 100644
--- a/guide/C/ch_currency.xml
+++ b/guide/C/ch_currency.xml
@@ -96,9 +96,9 @@ Note: the currency of each account is shown in parenthesis.
<para>Since in this example you mostly work in USD, all of the parent
accounts are set to USD. Of course, if you mostly work in Euros, you could
- change the currency of these parent accounts to EUR. To totals shown in
+ change the currency of these parent accounts to EUR. The totals shown in
the account tree window will always be converted to the currency of each
- particular account. Notice, we also setup 3 Starting Balances equity
+ particular account. Notice, we also set up 3 Starting Balances equity
accounts, used to initially populate the 3 banks.</para>
<note>
@@ -184,7 +184,7 @@ Note: the currency of each account is shown in parenthesis.
<application>&app;</application> can be used as a hub for all sorts
of personal metrics, in addition to finances.</para>
- <para>The drawback here is that you cannot define exchange rates for
+ <para>The drawback with this second methgod is that you cannot define exchange rates for
the dummy currencies to convert them to <acronym>ISO</acronym>
currencies. If you want to do that, you really should use the first
method.</para>
@@ -195,7 +195,7 @@ Note: the currency of each account is shown in parenthesis.
<title>Recording/Updating Currency Exchange (How-To)</title>
<para><application>&app;</application> allows you to update the Currency Exchange Rates in two
- different ways, manual and automatic. In the following two sections we
+ different ways, manually and automatically. In the following two sections we
will work through both ways.</para>
<para>Before we start, let’s have a quick look at the Chart of
@@ -261,7 +261,9 @@ Note: the currency of each account is shown in parenthesis.
Currency and the <guilabel>Security</guilabel> to EUR (Euro).
Then set the exchange rate between the selected security and the
selected currency. In this example, you will set the exchange rate to 1
- EUR for 1 USD.</para>
+ EUR for 1 USD (think of it as: how many units of the currency, in this
+ case, USD, do you have to spend to get one unit of the security, in this case,
+ the currency EUR).</para>
<screenshot id="currency_manualpriceadded">
<mediaobject>
@@ -407,7 +409,7 @@ Note: the currency of each account is shown in parenthesis.
exchange rate retrieval.</para>
</listitem>
<listitem>
- <para>Deselect the <guilabel>Get Online Quotes</guilabel>box and
+ <para>Deselect the <guilabel>Get Online Quotes</guilabel> box and
click <guibutton>OK</guibutton>.</para>
</listitem>
</itemizedlist>
@@ -431,20 +433,20 @@ Note: the currency of each account is shown in parenthesis.
transactions.</para>
<para>The rest of this section will explain more based upon option
- 2)</para>
+ 2).</para>
<sect2 id="currency_purchase2">
<title>Purchase of an asset with foreign currency</title>
<para>Your normal place of residence is in Florida, therefore you are
- using USD as your default currency. But, you do like to travel to
- Bahamas and go fishing. You like it so much so you decided to purchase a
+ using USD as your default currency. But, you do like to travel to the
+ Bahamas and go fishing. You like it so much that you decided to purchase a
boat there. To do this, you opened a bank account in Jamaica, moved some
- money from US, and then purchased your dream boat (smallest
- version)</para>
+ money from the US, and then purchased your dream boat (smallest
+ version).</para>
<para>To record this in <application>&app;</application> we use the following basic account
- structure</para>
+ structure:</para>
<literallayout>
-Assets (USD)
@@ -461,9 +463,9 @@ Note: the currency of each account is shown in parenthesis.
</literallayout>
<para>First you need to transfer some money ($10,000) to Jamaica, and
- you use your normal US bank account (with balance of $100,000) for
- that. The bank give you an exchange rate of USD 1 = JMD 64, but charges
- you USD 150 to do transfer the money.</para>
+ you use your normal US bank account (with balance of $100,000) for
+ that. The bank gives you an exchange rate of USD 1 = JMD 64, but charges
+ you USD 150 to transfer the money.</para>
<screenshot id="currency_purchase_MoveMoney.png">
<mediaobject>
@@ -499,7 +501,7 @@ Note: the currency of each account is shown in parenthesis.
</mediaobject>
</screenshot>
- <para>As Exchange Rate you enter 1 USD = 64 JMD, since this is the rate
+ <para>As Exchange Rate, you enter 1 USD = 64 JMD, since this is the rate
your bank gave. Press ok in the Transfer Funds (Edit Exchange Rate)
window, and then save this split transaction. Below is how it now looks
in the main Chart of Accounts.</para>
@@ -558,7 +560,7 @@ Note: the currency of each account is shown in parenthesis.
<para>Assume that you live in New York and therefore you have set the
default currency to USD. You decide to purchase a stock traded in Hong
Kong that is priced in HKD. You would also like to be able to track the
- various income and expenses per stock and broker.</para>
+ various income and expense amounts per stock and broker.</para>
<para>You decide to purchase stock in the Beijing Airport (Hong Kong).
(After all, the 2008 Olympics in Beijing have finished and the price has
@@ -583,7 +585,7 @@ Note: the currency of each account is shown in parenthesis.
</listitem>
</itemizedlist>
- <para>Since we wanted to be able to track all various incomes and expenses,
+ <para>Since we wanted to be able to track all various income and expense amounts,
we come up with the following Account structure:</para>
<literallayout>
@@ -632,12 +634,12 @@ Income:Investments:Dividend:Boom:0694.HK (HKD)
</mediaobject>
</screenshot>
- <para>If you have not moved some money (HKD 50,000) into the brokerage’s
+ <para>If you have not moved money (HKD 50,000) into the brokerage’s
cash account (<emphasis>Assets:Investments:Brokerage Account:Boom:Bank</emphasis>), do so
now, either using the Equity (HKD) account, or an existing bank account
(Currency Transfer).</para>
- <para>Let’s assume that stock price is HKD 3 per share. To record the
+ <para>Let’s assume that the stock price is HKD 3 per share. To record the
purchase, open the brokerage’s HKD cash account
(<emphasis>Assets:Investments:Brokerage Account:Boom:Bank</emphasis>), and enter
the following:</para>
@@ -716,13 +718,13 @@ Buy Stocks
<title>Tracking Currency Investments (How-To)</title>
<para>Currency investment is when you decide to invest in different
- countries currency, and hope that their currency will raise in value
+ countries' currency, and hope that their currency will raise in value
relative your own currency.</para>
<para>When you enter these transactions into <application>&app;</application>, you will have to
- decide on how much details you would like to have.</para>
+ decide on how much detail you would like to have.</para>
- <para>If you are not interested in details at all, a very simple account
+ <para>If you are not interested in detail at all, a very simple account
structure would be enough. Something like this;</para>
<literallayout>
@@ -787,7 +789,7 @@ Buy Stocks
</tgroup>
</table>You should get an Exchange Rate window popping up when you
leave the last row in the split above (Currency Transaction). If this
- window do not pop up, right click on the row, and select <guilabel>Edit
+ window does not pop up, right click on the row, and select <guilabel>Edit
Exchange Rate</guilabel>. In the Exchange Rate window you specify the
exchange rate you got from the bank.</para>
</sect2>
@@ -795,9 +797,9 @@ Buy Stocks
<sect2 id="currency_invest13">
<title>Selling a currency investment</title>
- <para>Entering an currency you are selling is done in the same way as
- buying one except the you are now transferring money from the Currency
- account to your Savings account (very much similar to (<xref
+ <para>Entering a currency sale is done in the same way as
+ a currency buy except that you are now transferring money from the Currency
+ account to your Savings account (very similar to <xref
linkend="invest-sell1" />).</para>
<para>The proper recording of the currency sale *must* be done using a
@@ -909,21 +911,21 @@ Buy Stocks
</listitem>
<listitem>
- <para>You pay of your existing house loan</para>
+ <para>You pay off your existing house loan</para>
</listitem>
<listitem>
- <para>You purchase some stocks in Sweden using SEK (Ericsson
+ <para>You purchase some stock in Sweden using SEK (Ericsson
B-Fria)</para>
</listitem>
<listitem>
- <para>You purchase some stocks in HK using HKD (Beijing
+ <para>You purchase some stock in HK using HKD (Beijing
Airport)</para>
</listitem>
<listitem>
- <para>You purchase some stocks in US using USD (Amazon)</para>
+ <para>You purchase some stock in US using USD (Amazon)</para>
</listitem>
<!--
@@ -954,9 +956,9 @@ Buy Stocks
</itemizedlist>
<note>
- <para>Again these samples are not intended as a valid and
- accurate advice. They are only to be considered as a sample for
- the techniques used in <application>&app;</application>, and not as an Investment Advice.
+ <para>Again these examples are not intended as valid and
+ accurate advice. They are only to be considered as a example for
+ the techniques used in <application>&app;</application>, and not as Investment Advice.
Please consult a proper financial advisor for more information
regarding international investments/loans.</para>
</note>
@@ -972,7 +974,7 @@ Buy Stocks
preferences (<menuchoice><guimenu>Edit</guimenu><guimenuitem>Preferences</guimenuitem></menuchoice>,
<menuchoice><guimenu>&app;</guimenu><guimenuitem>Preferences</guimenuitem></menuchoice> on Mac OS X)
to set Default Currency as AUD. Since you have
- decided to be able to track as much of your various expenses and incomes
+ decided to be able to track as much detail of your income and expenses
as possible, the following account hierarchy could be used;</para>
<literallayout>
@@ -988,8 +990,8 @@ Assets:Current Assets:Savings Account (AUD)
<para>You open the mail one morning, and to your enormous surprise find
that you are the last living relative of a very distant relative who
- happened to be very rich. And also $500,000 AUD richer. That was not the
- last though, another mail states you won the lottery, and got $250,000
+ happened to be very rich. And so, now you are $500,000 AUD richer. That was not
+ all though; another item in the mail states that you won the lottery, and got $250,000
AUD for that. </para>
<para>To record these transaction we need the following accounts</para>
@@ -1017,7 +1019,7 @@ Equity:Inheritance (AUD)
</row>
<row>
- <entry>Income:Lottery</entry>
+ <entry>Equity:Lottery</entry>
<entry>$250,000</entry>
@@ -1025,7 +1027,7 @@ Equity:Inheritance (AUD)
</row>
<row>
- <entry>Income:Inheritance</entry>
+ <entry>Equity:Inheritance</entry>
<entry>$500,000</entry>
@@ -1058,7 +1060,7 @@ Equity:Inheritance (AUD)
<sect2>
<title>Purchase a house</title>
- <para>At last you can afford to pay of that house loan you had to take some years ago
+ <para>At last you can afford to pay off that house loan you had to take some years ago
(with a $50,000 deposit).</para>
<literallayout>
@@ -1069,7 +1071,7 @@ Equity:Opening Balance (AUD) $50,000
</literallayout>
<para>After you have had a small chat with your Mortgage bank, they
- agree to let you pay it all of in one go, plus some interest (AUD
+ agree to let you pay it all off in one go, plus some interest (AUD
30,000). You should enter the following split transaction into
<emphasis>Assets:Fixed Assets:House</emphasis> account.</para>
@@ -1133,16 +1135,16 @@ Equity:Opening Balance (AUD) $50,000
</sect2>
<sect2>
- <title>Stock Purchasing</title>
+ <title>Purchasing Stock</title>
<para>Since you quite suddenly have a lot of money in your bank account,
you decide to visit a Financial Advisor, and after his recommendation
- (remember, this is fictional - Not a genuine stock purchase advice) you
+ (remember, this is fictional - not genuine stock purchase advice) you
decide to purchase Telecommunication (Ericsson in Sweden), Beijing
Airport (Hong Kong), and Amazon (USA).</para>
- <para>The needed accounts to track these investments looks like
- this.</para>
+ <para>The needed accounts to track these investments look like
+ this:</para>
<literallayout>
Assets:Investments:Swedish Broker:ERIC.ST (STOCK ERIC.ST Yahoo)
@@ -1223,10 +1225,10 @@ Expenses:Investments:Currency Transfer (AUD)
</table>
<para>Now when there is some money in the various stock brokerage
- accounts, you ask each broker to buy stocks for the certain amount.
- Remember to execute the transaction from the stocks associated bank
- account, and if the Exchange Rate window do not pop up, right click the
- row and manually start it. Enter the number of stocks you purchase in
+ accounts, you ask each broker to buy shares of stock for the specified amount.
+ Remember to execute the transaction from the bank account associated with the
+ stock, and if the Exchange Rate window does not pop up, right click the
+ row and manually select it. Enter the number of shares you purchase in
the last entry (To Amount:).</para>
<para>
@@ -1279,9 +1281,9 @@ Expenses:Investments:Currency Transfer (AUD)
</table>
</para>
- <para>As you can see in the Chart of Accounts, you have now purchased stocks in three
+ <para>As you can see in the Chart of Accounts, you have now purchased shares of stock in three
different currencies (HK, USD, as well as in SEK), but the Chart of Account (as seen below)
- do not indicate how much it is valued in your home currency, AUD.</para>
+ does not indicate how much they are valued in your home currency, AUD.</para>
<screenshot id="currency_PutTogether_AfterStocks.png">
<mediaobject>
<imageobject>
@@ -1298,8 +1300,8 @@ Expenses:Investments:Currency Transfer (AUD)
</mediaobject>
</screenshot>
- <para>Next section will ensure you get the various exchange rates so <application>&app;</application> can show your
- total worth in the local currency (AUD in this case)</para>
+ <para>The next section will ensure you get the various exchange rates so that <application>&app;</application> can show your
+ total worth in the local currency (AUD in this case),</para>
</sect2>
<sect2>
@@ -1337,14 +1339,14 @@ Expenses:Bank Charge (AUD)
<sect2>
<title>Buying property in New Zealand with a loan from Japan</title>
- <para>Your long time Japanese friend offers you a Japanese house loan if
+ <para>Your long-time Japanese friend offers you a Japanese house loan if
you purchase a property overseas, with only AUD 50,000 as deposit. After
having discussed this with your Financial Advisor in Australia and gone
through the various risks and benefits related to your situation, you
decide to accept his offer. </para>
<note>
- <para>Again, this should not be taken as a financial advice. Please
+ <para>Again, this should not be taken as financial advice. Please
consult with a registered financial advisor before undertaking
investing (or speculating) in overseas markets, or local markets for
that matter.</para>
@@ -1353,8 +1355,8 @@ Expenses:Bank Charge (AUD)
overseas for a very low interest rate might seem like a very good
deal. Do keep in mind though that the exchange rate might change and
can change drastically. If you take a loan in your local currency, you
- only have to worry about the interest rate. Taking a loan overseas,
- then you have to worry about the interest rate and the exchange rate.
+ only have to worry about the interest rate. If you take a loan overseas,
+ you then have to worry about the interest rate and the exchange rate.
</para>
</note>
@@ -1426,8 +1428,8 @@ Assets:Fixed Assets:NZ House (NZ)
<sect2>
<title>Whats next?</title>
<para>As you have seen in the above examples you have only done the initial purchases.
- The rest, that is various selling, and unrealized gains tracking is left for you to
- ponder upon.</para>
+ The rest, that is, various selling transactions and unrealized gains tracking is left for you to
+ ponder.</para>
</sect2>
Summary of changes:
guide/C/ch_currency.xml | 120 ++++++++++++++++++++++++------------------------
1 file changed, 61 insertions(+), 59 deletions(-)
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