currencies

[Charles M. Gagnon]

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
> 
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-- 
Charles Gagnon                   | My views are my views and they
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