currencies

[Christian Stimming]

Herbert Thoma wrote:
> If I
> have sets of account with different currencies, then the
> individual sets need to balance and if I transfer funds
> from on set to another and bach later, there should be
> a way to track capital gains/losses automatically to
> keep the books balanced.

At the very end, on the balance sheet report, this could look like this:
Currently the balance sheet shows that for each currency the equation A
= L + E holds. However, for balancing the whole books (ledger?), the
user should 1. choose a currency in which the balance should be
calculated, and 2. provide the current exchange rates for different
currencies. The balance sheet report then calculates an extra "capital
gain" Asset (or "capital loss" Liability) for each different currency. 

Example: You started with USD 750.00 from your Equity account, bought
DEM 500 at 1USD=2DEM for USD 250.00. Then the rate drops to
1USD=2.50DEM.

Balance currency USD, current exchange rate 1 USD = 2.50 DEM 

Assets:USBank                       USD 500.00
Assets:GermanBank  DEM 500.00 worth USD 200.00

Liabilities:CapitalLoss            -USD  50.00
Equity:StartCapital                 USD 750.00
                                   -----------
                                          0.00
q.e.d.


Christian