Recording in KRW, Reporting in USD, Budgeting in USD
christopher.lck at gmail.com
Fri Nov 10 18:30:54 EST 2017
Hi Scott, if you have some hacking skills, you can test a beta Transaction
Report which can display both report and original currency. With any luck
it'll be ready for inclusion in the next release.
Are you able to follow
It can show both KRW and USD on the same line, however, the exchange rate
will be the *exact* rate that applies to each transaction rather than the
weighted average rate.
I don't use budget and can't help sorry.
On 10 November 2017 at 11:36, Scott <scottstevens34 at gmail.com> wrote:
> Hello everyone,
> I've been reading the forum and resources online, but I can't seem to find
> situation that matches mine.
> I work for a human rights NGO in Seoul, South Korea, so all of my
> transactions are in KRW. That is, except for our USD drawdown payments from
> one of our donors in the US.
> I've been using GNU cash to record all our expenses and keep a balanced
> book, but I'm looking to make some progress on budgeting and reporting. Our
> budgets for each account are set at the beginning of the year by our donor,
> and we need to report quarterly in USD. I use a weighted average formula to
> make sure that our KRW amount matches the USD amount so at the end of the
> year we spend within the USD amount.
> So basically, I'd like to be able to *1) see my regular KRW transactions
> alongside their value in USD (set to the weighted average rate)* and *2) be
> able to set my budget in USD*.
> Up to this point I've just been keeping a KRW record and then manually
> applying the USD exchange rates to find out how much we've spent in USD.
> There must be a better way!
> I've found two possible solutions, but I'm not sure if they're workable and
> would greatly appreciate the community's input!
> 1) Record all transactions in KRW, export reports to xml, find a way to get
> the xml to display in excel and apply exchange rates there. Drawbacks here
> are that I can't see my budget or spending in USD live, without a time
> consuming process.
> 2) Set my default currency to USD and apply my updated exchange rate at
> transaction. The downside here is that I have no easy way to see my data in
> KRW, which I need to report for Korean taxes etc.
> My first post is an essay, so thanks if you made it this far. Glad to join
> the community!
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