Recording foreign cash purchases

[Robert C. Ramsdell III]

On Wed, 2006-01-04 at 02:00 +0000, Julian Gilbey wrote:
> On Tue, Jan 03, 2006 at 07:27:49PM -0500, Derek Atkins wrote:
> > 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.
> 
> I tried this but was not able to get GnuCash to recognise a
> transaction from a USD Asset account to a GBP Expense account.
> Weird.
Very weird.  I tried this on my system (although I set up a GPB account,
and usually use USD).  I created both a bank and asset account, and
selected GBP as the currency.  When I recorded an initial transfer from
my main checking I was prompted for an exchange rate.  I then set up a
'purchase' (transfer to a USD expense account).  I was again prompted
for the exchange rate (I kept the same as before).  Both transactions
displayed correctly in the USD and GBP accounts.

I'm using 1.8.11.  What version have you?

> 
> > Having USD expense accounts is really the right solution.
> 
> I can understand that, but this is a relatively rare event, and so I'd
> prefer to have just one set of accounts, even if it's a little more
> work to enter the data.
> 
> Thanks!
> 
>    Julian
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-- 
Robert C. Ramsdell III
5528 Middaugh Avenue
Downers Grove, IL 60516
(630) 435-1776
rcriii at ramsdells.net