Purchases in a foreign currency

Fred Bone Fred.Bone at dial.pipex.com
Wed Apr 7 04:25:58 EDT 2010


On 6 April 2010 at 16:08, Paul A. said:

> An extra complication: exchange rates vary with time, so I need the
> exchange rate at the time of the transaction, not as of today.  Can
> GnuCash help me with that? 

No: you need the exchange rate used by whichever bank made the exchange, 
on the day that the exchange happened - which could be several days 
later. In general you do not know either the rate or the date until the 
txn appears on your card account.

So you put in a best guess (or let Gnucash use the most recent one it 
knows about), and correct it later when you are in possession of the 
facts. Exactly as you would with any other accounting software.



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