[GNC-dev] book currency is what ... question mark

Christian Kluge frakturfreak at gmail.com
Mon Feb 18 14:15:49 EST 2019


Am 18.02.2019 um 09:29 schrieb Thoma, Herbert:
> Just my humble opinion, see below inline.
> Am 17.02.2019 um 20:50 schrieb Christian Kluge:
>> Am 17.02.2019 um 19:58 schrieb Wm via gnucash-devel:
>> Often times with cash transactions it happens that people use simple
>> exchange rates which are nowhere near the actual rates. So I might be
>> paying 5 EUR for a service worth 20 PLN according to the receipt, so you
>> might assume that the exchange rate is 1 to 4, but the actual rates are
>> in a range of 1 to 4.2/4.3.
> If you paid 5 EUR for that service, then this is the only fact that
> matters for accounting. Some account (bank or cash) is decreased by
> 5 EUR and some expense account is increased by 5 EUR. Nobody (at least
> not the german tax authorities, if you want to report this expense for
> tax purposes) cares that the service might be worth 20 PLN. You paid
> 5 EUR for it and that you need to record.

There is one exception to this being VAT calculation.

Sect 16 Par 6 of the German VAT act stats that foreign currency amounts
should be converted with the monthly ECB averages or the actual daily rates.


Of course you’d record the full 5 EUR but a rate of 1 to 4.2 only 4.76
EUR would be subject to VAT.

Kind regards

Christian Kluge

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