Entering transactions that require a currency conversion

Derek Atkins warlord at MIT.EDU
Wed Jun 12 10:29:12 EDT 2013

culmore <culmore at gmail.com> writes:

> Derek Atkins wrote
>> 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.
> Thanks Derek for enlightening me. One more question will it be okay for me
> just to change existing "A/Receivable" accounts to "Stock" using "Edit
> Account" or will that bring extra problems???

If you change it to Asset then there is nothing else you need to do.  If
you change it to Stock, then you'll have to create a Security, and then
you'll have to adjust all the transactions because the stock account is
denoted in a count of the security, not in the value of that security.

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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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