Trial balance failed!

[Derek Atkins]

Hi,

Quoting Miano <mianomurage at zinkdigital.com>:

>
> My trial balance still in imbalance. I have traced the imbalance on a
> transaction involving Foreign currencies. Any way to fix this?

Add proper Gain/Loss splits to the sale of the foreign currency.

-derek

> Fred Bone wrote:
>>
>> On 20 Jun 2007 at 20:08, Daniel said:
>>
>>> Oh, here is another thought: I deal with more than one currency. Could
>>> that be the problem? This this what I'm thinking:
>>>
>>> 1) On day one I have the assets:
>>>     USD Bank account:  $2000
>>>     CAD Bank account:  $2000
>>> 2) I transfer $1000 USD to Canada at a rate of $1 US = $1.30 CAD.
>>>     USD Bank account:  $1000
>>>     CAD Bank account:  $3300
>>> 3) The Canadian dollar appreciates to $1 US = $1.10 CAD. If I calculate
>>> my
>>> total assets in USD, some money will have vanished. If I calculate my
>>> total assets in CAD, some money will have appeared out of nowhere.
>>>
>>> If I have income and expenses in more than one currency, I guess
>>> currency fluctuations could ruin the trial balance.
>>>
>>> Do you think this might be the problem?
>>
>> It might, but based on my experiments I don't think it is.
>>
>> Here's what I tried:
>>
>> 1. Create new file: minimal structure (just accept defaults).
>> 2. Credit Assets:Cash:Cash in Wallet with GBP1000 from Equity:Opening
>> Balances
>> 3. Create account Assets:Cash:Cash in Wallet:Euro
>> 4. Credit the EUR account with EUR200 from the GBP account, accepting the
>> default exchange rate of GBP1=EUR1.515152; this showed as GBP132 there
>> 5. Trial Balance shows (omitting blank entries)
>>   Cash in Wallet    £868
>>   Euros             £132
>>   Opening Balances          £1000
>>                    £1000    £1000
>> So far so good.
>>
>> 6. In Price Editor, update the rate to EUR1=GBP0.7
>> 7. Refresh Trial Balance:
>>   Cash in Wallet    £868
>>   Euros             £140
>>   Opening Balances          £1000
>>                    £1008    £1008
>> and there's also a line "Unrealized Gains" with nothing against it.
>> Note that the Credit column (on the right) doesn't add up.
>>
>> 8. In Price Editor, update the rate to EUR1=GBP0.5
>> 9. Refresh Trial Balance:
>>   Cash in Wallet    £868
>>   Euro              £100
>>   Opening Balance           £1000
>>   Unrealized Gains   £32
>>                    £1000    £1000
>> Now the columns add up.
>> They still balance though, whether the exchange rate goes up or down. In
>> the "up" situation, I think it's just omitted £8 in the "Credit" column
>> for "Unrealized Gains".
>>
>> Do you have any Stock accounts in which you have done a negative Stock
>> Split? This was the problem I reported a couple of days ago. I have now
>> reproduced it in a two-transaction scenario (buy some stock, do a
>> negative split; result: trial balance failure).
>>
>> Clearly the Trial Balance report code has bugs. I'm not in a position to
>> find them, much less fix them.
>>
>>
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-- 
       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