Handling foreign currency invoicing

Derek Atkins warlord at MIT.EDU
Wed Oct 9 13:57:51 EDT 2013


Hi,

Tom Vincent <gnucash at tlvince.com> writes:

> Following the [Using Multiple Currencies][1] section of the GnuCash
> FAQ, I've set up some accounts as follows:
>
> Accounts Receivable:GBP
> Accounts Receivable:HKD
>
> Sales:GBP
> Sales:HKD
>
> I've then created a customer whos billing currency is HKD and created
> and posted an invoice with single entry of 1000 HKD (see the first
> attachment for a test fixture).
>
> Now when I come to pay the invoice, I choose checking account (GBP) as
> the transfer account and GNUCash prompts for the conversion rate.
> After entering 80 in the 'to amount' field, my ledger now unexpectedly
> looks as follows (see the second attachment):
>
> Assets 12,500 GBP
> Assets:Accounts Receivable 11,500 GBP
> Assets:Accounts Receivable:GBP 0
> Assets:Accounts Receivable:HKD 920
> Assets:Current Assets:Checking Account: 1000 GBP

This isn't unexpected at all.  The Invoice is in HKD.  You entered in
80, which is applying 80HKD to the invoice of 1000 HKD, which is why you
have 920 HKD left.

> Income 12,500 GBP
> Income:Sales 12,500 GBP
> Income:Sales:GBP 0
> Income:Sales:HKD 1000
>
> This seems to be because I misinterpreted the conversion dialog, not
> noticing I was transferring *from* GBP to HKD.
>
> 1. How can I undo this?

Just delete the Payment transaction.

> 2. If I revert to attachment 01, and instead fill the exchange rate
> field with 12.918 (1 GBP = 12.918 HKD), the income accounts are as
> expected, but now Assets:Accounts Receivable:HKD has a total of
> -11,918 (see attachment 03), with the following transactions:
>
> Payment (Split Transaction) 1000
> Pre-payment (Split Transaction) 11,918
> Invoice (Income:Sales:HKD) 1000
>
> Where am I going wrong?

Do you feel the problem is in the Invoice or the Payment?

>   [1]: http://wiki.gnucash.org/wiki/FAQ#Using_Multiple_Currencies

This FAQ doens't completely apply to the Business features.

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-derek
-- 
       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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