Multiple currencies in GnuCash, Vol 79, Issue 27

[Mike or Penny Novack]

rsbrux at yahoo.com wrote:

>I am a little disconcerted by the recent remarks, both in the issue mentioned above and also several weeks ago, about the difficulties of using GnuCash with multiple currencies.
>As an American living in Switzreland, this is an essential feature for me.  I was planning to migrate to GnuCash from a no longer supported OEM version of Quicken 2001, which Intuit customized for UBS.  After reading about the pain some users are having with multi-currency, I'm not so sure anymore.  UBS Quicken is easy to use, but has a few annoying quirks and no way of downloading data, since UBS discontinued support.
>If GnuCash isn't the answer, what is?
>Who is using GnuCash successfully in a multi-currency environment, and what kind of hoops must I jump through to get there?
>TIA for any feedback!
>  
>
I am not quite sure we are clear about either the expectations or the 
usual accounting practices when dealing with multiple currencies -- and 
with that presumably different for those intentionally "trading" in 
currencies than for those where this is incidental. As usual I will 
claim that unless/until we understand what would be done the old 
fashioned way, pen and ink on paper accounting, we have no way to 
determine what if anything GnuCash isn't doing properly.

There are also legal/jurisdiction problems (WHEN are you allowed 
to/required to recognize gains or losses in currency transactions?)

Michael

-- 
There is no possibility of social justice on a dead planet except the equality of the grave.