currencies

[Leach, Chris J (Oakton)]

Excluding cash accounts I have only had experience  with accounts
in one currency. Could you explain how you transfer between accounts
of differing currencies?

> ----------
> From: 	Charles M. Gagnon[SMTP:charlesg@unixrealm.com]
> Reply To: 	charlesg@unixrealm.com
> Sent: 	Friday, 29 September 2000 2:52
> To: 	Leach, Chris J (Oakton)
> Cc: 	gnucash-devel@gnucash.org
> Subject: 	Re: currencies
> 
> There are also transfers between two accounts in different
> currencies.
> 
> On Thu, Sep 28, 2000 at 11:35:56AM +1100, Leach, Chris J (Oakton) wrote:
> > Perhaps a better way to start is to look at the types of transactions
> > that involve multiple currencies and then at how to make them easier
> > to use.
> > 1) Buy alternate currency from currency exchange/bank
> > Usually there is a listed exchange rate and often a commission.
> > You have all the relevant details on the receipt.
> > 2) Credit card purchase in alternate currency
> > The credit card company calculates it on exchange rate which
> > usually includes the commission. You find out the actual cost
> > when you can view the posted transaction.
> > 3) ATM withdrawal in alternate currency
> > The receipt usually is in the alternate currency so you need to
> > wait till you can see the posted transaction. There is often an
> > exorbitant charge for using a non local ATM
> > 4) Cash transactions
> > Pay for an item in 1 currency and get change in the alternate.
> > 5) travellers checks
> > I believe these are similar to 1.
> > 
> > What other types of transactions have people experienced?
> > 
> > How do I enter this.
> > At the moment it would require a transaction from
> > the source account to a currency account
> > and the currency account and the destination account
> > There maybe other splits for commission/transaction charges.
> > 
> > Ideally from the GUI I would like to say
> > from source to destination
> > perhaps have a popup asking for exchange rate because
> > the source and destination have different currencies
> > and gnucash can automatically setup the transactions via
> > the currency account.
> > 
> > But what when I buy things via EFTPOS/Credit. The
> > transaction is going to posted in the accounts currency but
> > all I have is the alternative currency value and an approximate
> > exchange rate.
> > I this case the amount paid probably should be recorded in a
> > memo and I should use a calculator and enter the approximate
> > value which will definitely need fixing at reconciliation time.
> > Is there anyway to make this easier?
> > 
> > 
> > As for nett worth when one has accounts in multiply currencies
> > then you will need to decide which currency you want to view it in
> > and what are the exchange rates between it and the others.
> > 
> > - Chris
> 
>