Recording foreign cash purchases

Julian Gilbey jdg at polya.uklinux.net
Tue Jan 3 19:13:49 EST 2006


Hi there!

I've done some searches on the following question, but come up with
various contradictory information.  So here goes:

I live in England, so have GBP as my major currency.

I travelled abroad, let's say to the USA (USD).  I exchanged some GBP
cash for USD cash, and drew some USD out on my credit card while in
the USA.

I spent cash (USD) while in the States, and also used my credit card.

How can I record these transactions?  I do want to record the
individual transactions: does this mean that I need to set up separate
USD expense accounts for each type of expense that I had?  One of the
things I saw was that currency accounts are now deprecated.  However,
I cannot simply have an expense from a GBP account made in USD.

So what is the best way to proceed?  I'd prefer not to duplicate all
of my expense accounts if at all possible...

Thanks!

   Julian


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