[GNC-dev] pricedb policy

[John Ralls]

Just get local currency at a bank or from a bank’s (preferably indoor) ATM--don’t forget to check it for a skimmer, even if it is in the bank’s lobby. Make a “cash in wallet” account in the local currency. That will get you better rates and only a few exchange transactions.

Regards,
John Ralls



> On May 13, 2018, at 8:44 AM, Adrien Monteleone <adrien.monteleone at lusfiber.net> wrote:
> 
> I didn’t think of that one. Pondering that accounting nightmare makes me glad I wasn’t concerned with accounting last time I was out of country and shopping in just such a fashion. Most of the time even receipts weren’t available. I probably paid a different exchange rate at each vendor. (It’s harder than many think to keep fractional rates in your head and do math with them while making purchasing decisions if you’re not used to doing so.)
> 
> Regards,
> Adrien
> 
>> On May 13, 2018, at 9:44 AM, Alen Siljak <alen.siljak at gmx.com> wrote:
>> 
>> I'll add a simple case that maybe does not happen often in real accounting but happens to me all the time.
>> 
>> When traveling and exchanging cash at various small shops, the exchange rate varies wildly. This, however, should not have the precedence compared to the official central bank's rate. Also, what happens when the currency is exchanged a few times per day?
>> 
>> These are the negative side-effects of your proposal. It is, however a very valid question if the reports are using only one rate.
>> 
>> In that case, I would prefer to be in control of the rate used. 
>> 
>> Another important item is that the Australian Tax Office, for example, publishes the official exchange rates for the tax year and I would really need to be able to use that rate for all my tax reports, irrespective of what the other entered prices may be.
>> 
>>> Sent: Sunday, May 13, 2018 at 12:34 PM
>>> From: "Christopher Lam" <christopher.lck at gmail.com>
>>> To: gnucash-devel at gnucash.org
>>> Subject: [GNC-dev] pricedb policy
>>> 
>>> My concerns relate to (1) above. I believe these transactional prices are
>>> always more accurate than online quotes, because they describe the exact
>>> prices achieved.
>>> 
>>> But it's buggy, e.g. if there are 2 transactions involving GBP/USD on the
>>> same day, the second entered price will overwrite the first. (<- according
>>> to my last test)
>>> 
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> 
> 
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