Stock Price / Exchange Rates Used while Closing Book

[Prasad Marla]

Thanks David for the response - you made me realize I have not been clear
enough in my post ...

My income / expense transactions include two currencies - as I have worked
part of the year in another country. For closing the book, I have set up the
closing accounts as per example below
FY2011 Closing (CAD)
Income 2011 (CAD)
Expenses 2011 (CAD)
Gnucash did the the carry forward and posted to two currency accounts (AUD
and CAD) under the Income and Expense accounts. The roll up of these totals
is using the last maintained exchange rate - rather than the rate maintained
at 31/03/2011 - the closing date.

I think this has nothing to do with the the Close-Book operation in Gnucash
- but just the way the account balances are converted to the parent account
- guess this conversion will be always at the latest exchange rate.
I think the only solution is  zeroing out the non-home currency account and
carry forward account to the home currency account on the closing date -
thereby preventing the auto conversion.

Thanks for making me rethink the issue :-).

Regards
Prasad

On Sun, Apr 17, 2011 at 12:58 AM, David T. <sunfish62 at yahoo.com> wrote:

> The Close Book function in Gnucash closes the books on expense and income
> accounts only. It does nothing with unrealized gains, which from an
> accounting perspective, don't exist.
>
> David
>
> --- On Fri, 4/15/11, Prasad Marla <prasadmn at gmail.com> wrote:
>
> > From: Prasad Marla <prasadmn at gmail.com>
> > Subject: Stock Price / Exchange Rates Used while Closing Book
> > To: gnucash-user at gnucash.org
> > Date: Friday, April 15, 2011, 11:08 PM
> > Hi Gurus
> >
> > Which stock price / exchange rate does Gnucash use when
> > closing the book ?
> >
> > For example if I am closing the book for FY2011 on
> > 31/03/2011 - I expect
> > Gnucash to use the prices / rates maintained for 31/03/2011
> > (or
> > prior-nearest)  for doing the valuation and
> > calculating the unrealised gain
> > / loss and doing the carry forward to the next year .
> > However, Gnucash seems
> > to be using the last maintained - in my case it used the
> > exchange rate
> > maintained for 15/04/2011 !!
> >
> > Is there a setting I have missed ? I could not find
> > anything under
> > preferances / documentation.
> >
> >  Apologies in case this has been answered earlier - I could
> > not find a
> > thread with the search...and would appreciate being pointed
> > to the right
> > one.
> >
> > Regards
> > Prasad
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