International Transfers

[Egbert van der Wal]

You can do this using split transactions. This results in one 
transaction in each account, but multiple target accounts.

You then have to decide or find out who 'pays' the transfer fees: you 
could either deduct $1,000 from account 1 as a single split and add 
€750,- to account 2 with the other split being €38,51 to an account for 
bank transfer fees (Expense account) for Account 2. Or you could deduct 
$951,15 from account 1 with the other split being $48,85 going to bank 
transfer fees for Account 1. This way, the exchange rate will not be 
depending on the transfer fees and the will be registered separately, 
while still resulting in one transaction in each bank account.

Depending on your approach you have 1 split on the sending side and 2 on 
the receiving side, or 2 splits on the sending side and 1 on the 
receiving side.

Good luck!

Regards,

Egbert


Tom Balazs schreef op 28-09-14 om 11:07:
> I'm very confused by the Transfers in GnuCash for international bank
> transfers (wires). How can I include the service fees in the one "Transfer"
> transaction I create?
>
> I used "Actions / Transfer"
> I transfer from Bank Account 1 to Bank Account 2.
> GnuCash correctly uses the exchange rate. But how do I include the service
> fees (for sending the money and for receiving the money).
> http://i1232.photobucket.com/albums/ff365/webmanoffesto/GnuCashInternationalTransfersv20140928n01.png
>
> On my bank statement Account 1 will show one transaction (e.g. $1,000
> withdrawn). And Account 2 will show one transaction (that $1,000 after it
> was exchanged into the local currency and after the incoming transfer fee
> was deducted).
>
> I want my register to resemble the bank statements as closely as possible
> (if they show one transaction, then I should show one transaction).
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.