Recording foreign cash purchases

[Derek Atkins]

if you want to keep track of the amount but dont want a separate
set of accounts, you should just create a standard Asset account
with current USD, and then just make your expense transactions
from the USD account to the GBP account..  The problem with this
approach is that you need to keep track of your exchange rate
for every expense, instead of only when you convert the money
from GBP to USD.

Having USD expense accounts is really the right solution.

-derek

Quoting Julian Gilbey <jdg at polya.uklinux.net>:

> 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
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
>



-- 
       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