Multiple Currencies

[Davide Imbeni]

Hi again,

unfortunately I don't read email with fixed width fonts (you might try to
add something like xxx for blanks), but I think you are on the right track,
yes.

When it comes to the problems with the input of numbers, I have to say that
I did not follow the suggestions in Peter's paper 100%: I found it pretty
difficult to enter multiple transactions with different currencies in them.
Instead, I enter  one transaction per each involved currency.
I also experienced problems with different currencies formats and locales
(at least, when I've been forced to use Gnucash under windows 2000), which I
solved updating to EURO my locale settings (yes, my Laptop was THAT old...)

Hope this will help...

BR

Davide

PS. Don't forget to reply-all or to add gnucash-user at gnucash.org if you
reply to this.

On 10/3/07, Alan Larkin <alan.j.larkin at ucd.ie> wrote:
>
> Thanks lads,
>
> Thats much more complicated than what I was hoping for. After a very quick
> skim of those links, this
> is what I have gleaned:
>
> I use double entry.
> I should maintain single currency accounts.
> I should handle conversion via a pair of top-level "Currency" accounts
> (one for each currency).
> I should route purchases in Sterling through the Currency accounts to
> convert them to Euro for storage.
>
> So here's how I now think two transactions should look. The first
> withdraws £20 on my Visa, and the
> second purchases some beer with the cash. The Alcohol account remains in
> Euro, so the transaction
> must be routed through the Currency accounts (should view okay in
> fixed-width font):
>
> Description                        Account                 Debit    Credit
> Cash advance (1.00EUR = 1.45GBP)
>                                     Currency:Euro           29.07
> Cash advance fee                   Expenses:Banking Fees   02.00
>                                     Assets:Cash (Sterling)           20.00
>                                     Currency:Sterling                20.00
>                                     Liabilities:Visa                 31.07
>
>
>
> Description                        Account                 Debit    Credit
> Beer (1.00EUR = 1.47GBP)
>                                     Groceries:Alcohol       10.28
>                                     Currency:Euro                    10.28
>                                     Currency:Sterling       06.99
>                                     Assets:Cash (Sterling)           06.99
>
> Am I on the right track?
>
> The problem is, this doesn't work! Looking at the Visa transaction, it
> appears exactly as above in
> both the Liabilities:Visa and Currency:Euro accounts. But in
> Currency:Sterling, all the numbers are
> missing!! That is, the descriptions and the account names are present, but
> the Debit and Credit
> columns are empty. If I put something in them, they instantly turn blank
> again.
>
> Any suggestions?
>
> P.S.
>
> Ian, thanks. Problem is I am about to move over there for a few months.
> I'm really anal about my
> accounts. For 18 months I have accounted for every last penny and it gives
> me a warm feeling inside.
> I'm not looking forward to moving over there and having only approximate
> records :(
>
> Davide Imbeni wrote:
> > Hi,
> >
> > This topic has been discussed before, and it turns out to be more
> > complex than it seems. I would suggest you to have a look at
> >
> > http://www.mathstat.dal.ca/~selinger/accounting/gnucash.html
> > <http://www.mathstat.dal.ca/~selinger/accounting/gnucash.html>
> >
> > It helped me quite much (thanks to Peter!)
> >
> > BR
> >
> > Davide
> >
> > On 10/3/07, *Alan Larkin* <alan.j.larkin at ucd.ie
> > <mailto:alan.j.larkin at ucd.ie>> wrote:
> >
> >     Hi all,
> >
> >     My accounts are in a mess after a visit to England. Can someone
> >     please explain how GNUCash should be
> >     used to handle transactions in multiple currencies.
> >
> >     All transactions go back to my Visa (euros), i.e. stuff was either
> >     charged directly to it, or paid
> >     for with sterling withdrawn on the card. I created a sterling cash
> >     account to keep track of the
> >     sterling, but there are no conversions taking place, so in my other
> >     accounts I have running totals
> >     consisting of both euro and sterling tranactions which is obviously
> >     meaningless.
> >
> >     Can anyone sketch the solution for me. I cant find any useful help
> >     online.
> >
> >     Please please please, Thanks.
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>