Entering transactions that require a currency conversion

Derek Atkins warlord at MIT.EDU
Tue Jun 11 09:46:50 EDT 2013


culmore <culmore at gmail.com> writes:

> I know there is functionality to create invoices and add customers. But I
> find it simpler to create a new Account Receivable (A/R) for each stock
> item. Yes there are not many stock Items. Then the A/R account is an easy
> way to track what I have spent on each stock item ( my spending varies a lot
> for each item/account). Maybe there is a simpler way to do this but I don't
> know it, or if someone can explain to me a simpler strategy I'd be very
> happy to be educated.
>>From now on I will most enter from the Bank account "to" the A/R account.
> But I will still find it useful to do it the other way around. Maybe the UI
> could just warn us if we try to do a multi currency transaction from the AR
> account??????????????

If this is your goal then don't use an account of type A/R.  Just use a
regular asset account.  Or better yet, use a Stock account!  A/R is
absolutely the wrong thing for you if you're not using the business
features.  It will just cause you trouble.

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       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available

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