[GNC-dev] book-currency

[Wm]

On 04/07/2018 01:12, Alex Aycinena wrote:

> Today, in file->properties->Accounts tab, you can turn "trading accounts"
> on or off.

Not really, you either use them or you don't.

> I propose to change this to a selection of three alternatives:
> use trading accounts, specify a 'book currency', or neither trading
> accounts nor book currency. If trading accounts is selected, it would work
> as implemented by Mike. If neither is selected, it would work as gnucash
> does now without trading accounts selected. So no one would be forced to
> use the new feature.

Yikes, the extra option is scary.

> If 'book currency' is selected, it would require the specification of the
> book currency in file->properties.

That is a substantial change.

> Transaction entry would be modified to
> ensure every split that was not in the book currency had a 'price' or
> 'exchange rate' associated with it (to the book currency). 

I am in opposition to this until it is explained well.

> In addition, the
> existing lot tracking capabilities would be used to track the 'cost' (in
> book currency) of all accounts not denominated in the book currency (lots
> would automatically be created rather than having the user go through the
> Actions->View Lots process).

I object strongly as there is an extant means of balancing these tx.

> In entering any transaction that disposes of
> non-book-currency amounts, the user would be provided with assistance to
> calculate and book any gain or loss associated with the transaction based
> on these tracked costs.

I object, this is leaning towards one jurisdiction.

> The idea is that several policies would be used for
> this purpose (probably implemented in phases): LIFO, FIFO, average cost
> (perhaps), manual specification. Much of this lot tracking has already been
> implemented but I don't believe it has been fully tested.

I am supportive of this but don't think it has been thought through.

> A 'Cost and Unrealized Gains/Loss' report would be added to the menu if
> this feature is selected. It would show, for all non-book-currency accounts,
> as of a user-selected date: name, currency/commodity, cost, quantity, rate,
> value, unrealized gain/loss. Optionally, for each account, lot detail would
> be shown and, for each lot transaction detail would be shown.

I think that is largely redundant.

> The US Income Tax Report would be enhanced to use the booked gains/losses
> (bug 554397).

Or dropped entirely as being too country specific.

> Among the changes I foresee are:
> 
> - File->Properties: specify and select 'book currency', if selected,
> default gain/loss account and default lot tracking policy.


Doesn't the lot tracking happen regardless?

> - Account Edit: for 'non-book-currency' accounts, specify gain/loss
> account, lot tracking policy, short-sales allowed, currency account is
> priced in, skip lot-tracking flag.

That is going to involve a lot of work.  I'm think 2 or 3 years at least.

> - Register Transaction Entry: transaction currency will be 'Book Currency'
> rather than currency of register transaction is entered from, raise 'Edit
> Exchange Rates' dialog if split not in book currency, create/update lots
> for non-book-currency splits, if a sale (subject to 'short sales' rule),
> uses Lot Tracking Policy to calculate cost amount and tentative gain/loss

That's realisable


> - Stock Split: make compliant
> - Lot Viewer: Modify existing capability so that integrity can't be messed
> up. Also, it should not be available in menu for book-currency accounts. It
> currently has a problem where it seems to generate multiple Realized
> Gain/Loss entries under some conditions I haven't figured out yet.
> 
> It will probably take me several months to get this done. As I said above,
> I welcome feedback/comments.

I think some agreement about what is wrong makes more sense.

-- 
Wm