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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