Balance sheet unrealized losses

[Paul Nadolny]

Thanks William.

The foreign assets are funds, for example in the States, that are waiting
for me to transfer, exchange into the local currency (MZN) and then spend
on the project. So I keep the original USD in the asset account so that it
will reflect the new values as the currency rates change when I do reports.
But I put the value in MZN as a liability for the project that will spend
that money when it is transferred. So I do not manually calculate a
gain/loss in currency when I do transfer and change the USD. It would be
possible, (maybe too confusing for my level of skills) but I was hoping
that GnuCash would give the value of gain/loss when I make a report such as
Balance or Trial Balance...

I also have spent time looking at the "Editor of Quotations" under Tools.
So when I make the reports I enter the currency value that I want closest
to the date of the report. But I would be lost if I had to calculate all of
the foreign currency asset accounts and the transactions within them to
find a gain/loss in currency value. I know that I need that value, because
the rates change and the original value of the asset does too in the
report.

No, I do not see anything on the balance sheet report that would lead me to
the huge "unrealized losses " value at the end of the Equity section.

I will keep trying to figure this out by the practice method. For instance,
when I close one year and start another I resave the past year and start
the new year by deleting all of the transactions. Then I begin filling in
the "initial values" of the accounts. Maybe I should be "closing the year".
Its strange that the "unrealized losses" show up even on January 1, before
transactions begin.

As you can tell, I have not studied accounting, but have been learning
through practice. Paul

PS I am sending this again to reply CC


On Wed, Oct 30, 2013 at 12:14 PM, whwtan <whwtan at hotmail.com> wrote:

> Hi Paul,
>
> Could you give us a better idea of how you dealt with these multi-currency
> assets?
> i.e. Do you use transaction accounts or do you manual attempt to mark them
> to market monthly/quarterly yourself?
>
> Does your balance sheet show you where you are having those losses in the
> unrealised area?
>
> By the looks of it, if you have "accumulated" losses, it suggests that you
> are actually realising those gains and losses. This should not be the case,
> you only accumulate anything when you buy or sell, in other words , when
> you take an action and realise it.
>
> William
>
>
> On 30/10/2013 4:53 PM, Paul Nadolny wrote:
>
>> I have been using Gnucash for three years now and it is great. I need to
>> work in the local currency and have USD and EUR assests.
>>
>> When I do the Balance sheet I get a huge "unrealized losses" amount that
>> is
>> about 20 times more than the total assests. Even if I do the balance on
>> the
>> first day of the year (calender) I still get this huge figure. Could it be
>> from accumulated currency exchange losses? which in fact I do not know how
>> to work with yet?
>>
>> I do not have the skills to get the Balance sheet worked out.
>>
>> Thanks if you can help.
>> Paul
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