how are multiple currency transactions supposed to work?

[Derek Atkins]

greg <gmott at ntlworld.com> writes:

> hello gnucasheteers,
> 
> i'm from the USA living in the UK, trying to use gnucash(1.8.7), hoping
> it will work, but i must be missing something, hopefully somebody can
> toss me a clue.
> 
> i gather gnucash is supposed to be able to do a transaction between two
> currencies.  when i try it tho, even when i enter an exchange rate, i
> end up with an unbalanced transaction.  the only way to balance the
> transaction is when the exchange rate is 1:1?  otherwise, gnucash wants
> to add an adjusting split.  is that the way it is supposed to work?
> 
> the way i was hoping to use this is to enter transactions when i make
> them, eg a purchase on a credit card, then when i get the statement,
> correct the amount on the bank's side of the transaction, and hopefully
> gnucash would then adjust the exchange rate accordingly without too much
> fuss.
> 
> is gnucash up to this?  anyone recommend alternatives?

Sort of, but not automatically.  In order to get gnucash to update the
exchange rate you need to right-click on the transaction and select
"Edit Exchange Rate".  And you'll need to do this AFTER you change the
bank's side.

Once an exchange rate is set, it ALWAYS wants to keep that exchange
rate.  So, when you change one value it will attempt to keep that same
exchange rate and change the other value accordingly.  For example,
assume an exchange rate of 1:2, and values of #10 and $20.  If you
then change the value to #15, it will automatically adjust the
transaction to $30.

> tia,
> greg

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available