Accounts in multiple currencies

[Nathan Watson-Haigh]

Thanks for your response.

I suppose having two different "books" would make things easier. It probably
also helps with budgeting, as I'm only interested in what money goes out of
my AUS accounts (including those regular transfers to my UK account.

All this begs the questions:
"Is this a short-coming of GNUCash or just the complexity of handling
multiple currencies? Why does GNUCash need to handle multiple currency
accounts" i.e. what situation really need to have it handle multiple
currencies?

Could I ask for the following enhancements to the budget report:
1) Show totals at the bottom of the budget and actual columns
2) Show actual values as red if they are over spent or the income is under
the budgeted amount

These would really help to quickly identify those areas of the budget that
over spent etc.

Cheers,
Nathan


-----Original Message-----
From: Mike or Penny Novack [mailto:stepbystepfarm at mtdata.com] 
Sent: Tuesday, 21 October 2008 9:51 PM
To: Watson-Haigh, Nathan (LI, Rock. Rendel)
Cc: gnucash-user at gnucash.org
Subject: Re: Accounts in multiple currencies

Watson-Haigh, Nathan (LI, Rock. Rendel) wrote:

OK --- you have (actual) accounts holding funds in multiple currencies. 
So you would at least want separate (GnuCash) accounts. But that's an 
"at least" because possibly you want entirely separate "books".

Yes I understand, that might make more work for yourself having to 
combine figures from the two books (perhaps using a spreadsheet for 
this) to see if overall you are over or under budget. BUT, and this is a 
big but, if GB and AU do not require you to report to each what your 
operations were in the other -- this depends upon the various reporting 
rules/tax laws, etc. you probably don't want to volunteer any financial 
information that you aren't required to. I don't know anything about the 
tax laws of either the UK or Australia so can't advise on that. But it's 
a general rule "you don't tell them anything you are not absolutely 
required to".

Michael D Novack, FLMI
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