GNUCash Import QIF - Help Please!

[Wm]

Tue, 23 Jun 2015 12:46:18 
<CAGci8eLazMC0o=4Qesxu-n6UMz9YU=hbZ0zmjUHE7cFzqmu-xQ at mail.gmail.com> 
GT-I9070 H <gti9070h at gmail.com>

>I know that GnuCash recommends using expense accounts in the same 
>currency
>as the asset account involved. I know that it eliminates the use of
>exchange rates and a lot of work, but we lose the exchange rates 
>involved
>in the given transaction, we multiply our expense accounts and when
>exchange rates fluctuate generate differences in assets.

>So I opted for another approach:

Exchange for me is not just pay with EUR something priced in USD, if 
only
because in practice mostly a country only accepts their currency.

Exchange is to me more when I use one currency to buy another as well as
buy anything else, after the exchange I have an asset in another 
currency
equivalent to money I used to pay according to a CARRIED exchange rate 
at
the time of purchase.

When I spend all this money that I bought I'll also spent all that money
used to purchase it.

For this, I have all my expense accounts in the default currency and for
the asset in the foreign currency I use CARRIED exchange rate, FIXED in 
the
purchase of this asset for all this asset because this was the price in 
the
default currency of this asset.

Thus, with the cost of more work, I eliminate many or all of the above
problems.

I do not know anyone who uses this approach to work with multicurrency, 
but
for many years I have my assets and expenses in default currency, buy
assets in foreign currency (an account for each fixed exchange rate) and
spending on exchange for the default currency according to CARRIED, 
FIXED
exchange rate. It has worked very well. Until today I have not seen
problems.

If left over asset in foreign currency I do an exchange to the default
currency, calculate the losses or gains and haul in profit or loss.

I read, if I remember correctly, in GnuCash documentation a very well
explained approach to work with multicurrency, but I did not like and I
developed my own. I wrote up a document that I planned to share.

I think you posted about this before and everyone lost interest because 
it was so obscure.  It might help if you showed the document, I would 
certainly read it out of interest.

I hope I was clear,


Never knowingly



I hope now you can understand.


If I understand, and I *think* I do, then possibly an import won't work 
at all and becomes rather complicated.  As JohnR suggests in the other 
thread you'd be better off using the API, python should be easy enough 
if you borrow and you definitely need the sanity checks it involves.

What I think you do is this:

Buy X100 for Y50 and then reprice everything you buy in X in terms of Y.

So each X in your pocket is (you think) Y.5

So instead of a snack costing X1 you record it as Y.5 and so on

Until you get some more of X at a slightly different rate at which point 
the same snack now costs Y.54132

-- 
Wm...