Capital equipment showing zero value

[Henry Gomersall]

On Fri, 2011-07-01 at 10:26 -0400, Derek Atkins wrote:
> > We have to try to figure out what you did wrong. In generalized
> terms
> >
> > a) You had a transaction acquiring this (fixed) asset in return for
> a
> > liability to the vendor (not from assets -- you didn't pay yet)
> > b) You later liquidated this liability by paying the vendor
> >
> > This should have left a balance in capital equipment. Only the first
> > transaction affected that account
> 
> Are you sure that the Captial Asset account has the correct currency?
> A 0
> tends to imply varied currencies between the Vendor, A/P, and Asset
> accounts. 

Right! so making the account currency USD makes cash value of the
transaction visible. This is now in a subaccount of Capital Assets.

Two further problems are now apparent. Due to previous cock ups, the
assumed USD exchange rate is wrong (the reciprocal of what it should be,
which means the asset balance is wrong), which I can't seem to change.
When I select "Edit exchange rate" on the transaction of interest, I get
the message "The two currencies involved equal each other".

The second problem is that I'm now seemingly required to have a separate
asset account for each currency I purchased equipment in. Is there a way
around this, or is it standard practice? Are the exchange rates for the
capital equipment purchases frozen into the transaction?

Thanks,

Henry