Stock Price / Exchange Rates Used while Closing Book

[Prasad Marla]

Hi John
The balancing transaction converted the closing balances into CAD at the
year-end rate. So all good in regards to this.
Regards
Prasad

On Sun, Apr 17, 2011 at 1:53 PM, John Ralls
<jralls at ceridwen.fremont.ca.us>wrote:

>
> On Apr 16, 2011, at 3:49 PM, Prasad Marla wrote:
>
> > 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.
> >
>
> So as far as Gnucash is concerned, you have two sets of income and expense
> accounts, one in CAD and one in AUD.
> It created closing balances in each currency and transferred those amounts
> to a "balancing transaction". Did it convert the AUD amounts to CAD in that
> transaction, or did it leave them in AUD?
>
> Regards,
> John Ralls
>
>