Business and multiple currencies
warlord at MIT.EDU
Sun Feb 19 11:57:57 EST 2006
--> Vache (~nigel at www.titley.com) has joined #gnucash
<Vache> I'm having trouble setting up multi-currency business transactions. I normally work in GBP but I have suppliers who invoice me in USD. Can gnucash handle this automatically for me?
<Vache> I'm running SVN
<warlord> Vache: unfortunately no. the business features are all currently single-currency
<warlord> but worse, it doesn't properly check for the error case
<Vache> OK... I'll stop beating my brains out then... thanks very much. At least I'll stop wasting time.
<Vache> Many thanks for the quick response
<warlord> You're welcome to send in patches to help improve the situation
<Vache> I may do at some point...
<Vache> Thanks very much...
<-- Vache (~nigel at www.titley.com) has left #gnucash
Nigel Titley <nigel at titley.com> writes:
> I'm been beating my head against a brick wall for several days over this
> and can't seem to get anywhere.
> The scenario is this. I run a small e-commerce business in the UK which
> involves buying stuff in the US, importing it and onward selling it.
> I've got the outgoing side working fine, because I sell in GBP, however
> my suppliers bill me in USD. I'd like to be able to enter my suppliers
> bills in USD, calculate the VAT and then finally convert the payment to
> GBP. What I have tried to do is
> 1. Create the vendor entry and mark it as being paid in USD
> 2. Create a VAT tax table and create a VAT liabilities account
> 3. Enter the vendor bill in dollars
> At this point the line at the bottom of the bill gives me totals (for
> bill and VAT) in GBP. Regardless of what I do I don't seem to be able to
> enter a bill in USD. I can go ahead and post the bill and it appears in
> the AR account but with an unbalanced zero split. I've tried creating an
> AR account in USD, I've tried creating Expense accounts in USD to charge
> the individual bill items against all to no avail. The only way I can
> seem to make it work is to do the whole transaction in GBP, having
> manually converted the bill into GBP first. Am I doing something stupid,
> or is gnucash just not up to what I'm asking of it? I'm running current
> SVN on Fedora Core 3 patched to date.
> Please can someone help, even if just to tell me that what I want to do
> is impossible.
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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
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