Multi-currency

[Timothy Wight]

Absolutely, I left that unsaid, and it is in my view another argument 
for fixing the problem  (Sorry - I'm not trying to rain on your 
parade).  I used a single year end transaction to gather up all gains 
and losses and post accordingly, although that meant I could not 
distinguish performance of currencies - something a trader might want.

For my application (retailer, buying foreign, selling local) there were 
three significant benefits to using Trading Accounts rather than GnuCash 
Multicurrency as-is:
1) The accounts truly balanced
2) It stopped Gnucash from mistaking unrealised losses from realised ones
3) It was possible to assign realised losses to income/expense accounts 
by a normal transaction.

If we go this route then I agree that trading accounts should not be 
Income.  I always made mine type Bank, as while they  contained funds 
were really current assets.

Mike Alexander wrote:
> --On September 23, 2009 11:34:21 PM +0100 Timothy Wight 
> <tim.wight at kihoe.net> wrote:
>
>> I would like to put an alternative point of view -- and apologise in
>> advance for being long winded.
>
> One thing that may not be obvious since Peter's original articles 
> gloss over it a bit is that you still need to add splits for realized 
> gains and losses when you buy or sell any commodity.  The trading 
> account changes don't remove that requirement.  They more properly 
> deal with unrealized gains and losses but they don't (as you say) 
> distinguish between realized and unrealized gains and losses.  Gnucash 
> can, in some cases, created the splits for realized gains and losses, 
> use the lot scrubber, but this doesn't work perfectly and it is often 
> better to add them by hand.
>
>          Mike
>
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