Recording foreign transactions

[Michael D. Crawford]

Hi,

I have a question about using different currencies with GnuCash.  The fact that 
GnuCash handles more than one currency is one of the big things that convinced 
me to try it out.

My wife and I have several bills we pay in Canada, but we live in the U.S.  We 
also have a Canadian checking account.

Frequently, rather than transfer money to our Canadian account and paying with a 
canadian check, we just send them an american check.  So far everyone we've 
tried this with has done the right thing, and given us the appropriate exchange 
rate.  I'm sure an american bank would be dumbfounded if we sent them a canadian 
check.

Sometimes though we do wire money to our canadian checking account and then pay 
our canadian bills with canadian checks.

My question is whether GnuCash can deal with this.  My wife's sears card is 
denominated in canadian dollars, but most of our payments have been in USD, 
drawn off of our U.S. checking account.

I hope this can work, because it will be a big help to us if it can.

I'm just playing around with GnuCash now.  I imported all my Quicken accounts 
successfully, I'm going to work with it for a week or so and try to get it all 
configured just right.  Then my plan is to throw everything away once I 
understand the program well and set everything up again - I should have done 
that with Quicken, because my Quicken accounts are just a mess.

Thanks,

Mike
-- 
Michael D. Crawford
GoingWare Inc. - Expert Software Development and Consulting
http://www.goingware.com/
crawford@goingware.com

      Tilting at Windmills for a Better Tomorrow.