Multi currency users who "Use Trading Accounts"?

[David Carlson]

On 6/1/2012 9:27 PM, whwtan wrote:
> Hi all,
>
> Just wondering who else here actively uses Multi Currency in GnuCash
> and is comfortable with providing a little bit of guidance?
>
> I went through the tutorial documents and enabled the "Use Trading
> Accounts" flag but because I was overwhelmed with Gnucash asking me
> every single time there was a non-primary currency transaction, I gave
> up and created a whole deal of expenses with the currency as the header.
>
> e.g.
>
> Expenses
> -> USD Expenses
> -> AUD Expenses
>
> I actually do have a lot of transactions in non-primary currencies
> depending on where I am currently based. If I am in USA, it will be a
> lot of USD transactions. If I am in Australia, AUD etc.
>
> Am I setting up my accounts correctly or is there a more refined
> method which does not require separating all the expense accounts into
> sub-currencies themselves?
>
> Warmest Regards,
> William
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Of course the 'correct' method is the one that works for you.  That
said, I see that you are looking for a method that works better.

I am surprised that expenses need to be segregated by currency.  I my
meager experience, the key was to segregate assets and liabilities
(primarily bank and credit card accounts) by currency to  minimize
transactions in the non-primary currency.  Income and expenses took care
of themselves. 

If you need segregated books by currency, it might be simpler to have
completely separate files.

David C
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