gnucash strategy after international move

[Christoff Erasmus]

Hello Cardens,

I would recommend that:

1) You finalise your previous set of books, and then
2) Translate the closing balances (Assets and Liabilities) from the previous
currency to your current currency, then
3) Start a new set of books, with the Opening Balances per step 2 above.

Please note:
You should probalily use your previous accounting tree for easy transition,
but remember that the accounting tree is (and should be)  flexible to your
needs.

Hope your enjoying your new country.

Regards,
Christoff Erasmus


On 7 July 2011 04:43, H. Carders <h2carders2 at gmail.com> wrote:

> I searched through the list archives and the wiki but I could not locate
> any
> useful discussion on this.
>
> I have been using gnucash for 6 years and I just made a permanent move to a
> new country with a new currency.  I have created new accounts in gnucash
> for
> bank accounts and cash in the new currency but I am wondering about the
> wisdom of this.  Essentially, I will need to create a duplicate set of
> accounts for all accounts in the new currency, ie all expense and asset
> accounts etc.  I figure this could create some problems down the road with
> entry errors. So, my question is, How would you work with gnucash after
> doing such a move?  Would you:
>
> 1) create a whole new set of accounts in the new currency?
> 2) start a brand new set of books in the new currency?
> 3) use some other technique to make this a less painful process?
>
> Any help would be appreciated, including pointers to similar discussions
> that I may have missed.
>
> H.C.
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