tutorial on multi-currency accounting

[Guillaume Lessard]

--On April 18, 2007 1:57:51 -0400 Derek Atkins <warlord at MIT.EDU> wrote:

> I really think "trading accounts" is the WRONG approach for this problem.
>
> -derek


For what it's worth, if I actually used multiple currencies on a regular 
basis I would have given up on GnuCash within the trial time I had allotted 
for it. When I hit those bugs I assumed that within 3 years those problems 
would get solved! What serious accounting package wants to mandate a 
single-currency life?

Mike's solution is correct (very important). It is usable (important). It 
might even be good.

GnuCash currently has an ungood and uncorrect solution for people that 
actually use multiple currencies. It feels like they're treated like a 
stock holding. Treating foreign currencies like a stocks or funds omits the 
very important function of currency for doing things like buying stuff. 
Since I have, in fact, bought stuff using foreign currency and entered it 
in GnuCash, my books are condemned to imbalance until a correct solution is 
implemented.

If Mike's solution isn't to be adopted, where is the alternative?
(I need one.)

Cheers,

--
Guillaume Lessard
glessard at tffenterprises.com