Recording foreign cash purchases

[Derek Atkins]

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

> On Tue, Jan 03, 2006 at 10:46:17PM -0600, Robert C. Ramsdell III wrote:
>> 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?
>
> 1.8.10

How are you entering the transaction?  From which interface?
Make sure you're NOT using the general ledger, and instead
using the USD asset account register or the Transfer Dialog.

>    Julian

-derek

-- 
       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