Expenses with multiple currencies

[Daniel Carrera]

If there's another way to do it I would love to hear it. I don't know 
about the OP, but in my case I'm not sure that this idea would work 
well. My expenses have been about half in CAD and half EUR. I also have 
a good portion in GBP.

Worse yet: I am in Germany, so my choice of base currency should be EUR. 
But in a couple of years I'll move to Canada, and my choice of base 
currency will become CAD. Switching all the transactions I've done in a 
3 year period to use another currency would be a lot of trouble.

So var I've been keeping the expenses separate and just accepted that I 
can't track them well. I would love it if I had a way to use historical 
exchange rates to get a proper picture of my expenses, my assets and 
liabilities.

Cheers,
Daniel.

Derek Atkins wrote:
> Hi,
> 
> My suggestion is to compute the exchange rate when you enter the
> transaction and just report it as a USD expense.  E.g.:
> 
>   Assets:Bank:Bank 2 (EUR)         100?
>   Expenses:Bank Charges:Bank 2              $221.47
> 
> This will probably be the easier way to do it.
> 
> -derek
> 
> Quoting Youssef Ltaief <ltai0001 at yahoo.com>:
> 
>> Hi,
>> I checked the archive but couldn't find a clear answer to following 
>> situation:
>> I have two bank accounts in two different countries with two 
>> different currencies (USD and EUR)
>> I have bank expense charges on these two accounts that I get from my 
>> statements.
>> I currently have the following setup:
>>
>> Expenses
>> Expenses:Bank charges (USD)
>> Expenses:Bank charges:Bank 1 (USD)
>> Expenses:Bank charges:Bank 2 (EUR)
>>
>> The problem here is that the total on "Bank Charges" and subsequently 
>> "Expenses" is in USD and adjusted according to the current exchange 
>> rate which is not correct since the EUR charges were incurred in the 
>> past.
>>
>> Should I go with a set up where I separate the Top expense accounts 
>> like this instead:
>>
>> Expenses (USD)
>> Expenses:Bank charges (USD)
>> Expenses:Bank charges:Bank 1 (USD)
>>
>> Expenses (EUR)
>> Expenses:Bank charges (EUR)
>> Expenses:Bank charges:Bank 2 (EUR)
>>
>> Suggestions are appreciated
>> Youssef
>>
>>
>>
>>
>>      
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> 
>