GNUCash Import QIF - Help Please!

[GT-I9070 H]

2015-07-05 13:20 GMT-04:00 Wm <wm+gnc at tarrcity.demon.co.uk>:

>
>> No, this is the first time I publish this my approach to work with
>> multicurrency...
>>
>
> In the ledger-cli or beancount lists, maybe?  I'm sure I've seen this
> before.  Never mind.


if you have seen, great, so I'm not alone .



>   What I think you do is this:
>>  Buy X100 for Y50 and then reprice everything you buy in X in terms
>>  of Y.
>>
>> Yeah. Now I have X100 for spending. When I spend all X100 I will have
>> spent all Y50.
>>
>
> This is an extremely simplistic view and probably only works if you only
> or mainly work in cash.
>

"probably"?
Or works or does not work. Nothing needs to be complicated to work, if it
works better if it is simple. Geniality is work with simply.



> I, and I expect most other people here, have access to credit and foreign
> currency accounts.  Essentially I am saying many of us don't carry great
> big wadges of real live cash around in our pocket most days so the USD or
> YEN in my pocket changes value over time to me.
>
> Dunno about anyone else but I can't afford the bodyguards for lots of cash
> these days!



Any commodity can be treated like that. Everything has its purchase price,
its valuation price and the selling price.
Only are real transactions that have been completed. If the purchase of the
currency has been performed, then the purchase price is real. The valuation
price is just a "valuation" that serves to determine the selling price. You
will only have the REAL selling price after you make the sale before that
these prices are hypothetical and not real.

I prefer to work with the purchase price (REAL PRICE), would you rather
work with the valuation price (HYPOTHETICAL PRICE).



>   So each X in your pocket is (you think) Y.5
>>
>> No. If X100=Y50 then X=Y*1/2 (Where Y is default currency, X the
>> foreign currency and 1/2 the exchange rate).
>> Except if 1/2 = .5 in this case I'm sorry this is a notation issue. In
>> my country 1/2 = 0,5.
>>
>
> I live in a modern European economy, no need for you to apologise for
> living in a backward place, you better get used to international decimal
> separators if you want to progress :)
>
> Hint: what is the decimal in international exchange?  comma or point ?


"backward place"!?
Man, you did not need to offend, you gave a great ignorance show. "Use
international decimal separator to progress" ? \o/ Do not be a clown. Now I
have the right to answer you with the same stupidity.

Judging by your email, stupidity and arrogance and more, you are in England.
Now say that the rest of the world is driving on the wrong side of the
street.
Therefore let me tell you that my country recently was with GDP greater
than your and my country did not need to steal, plunder and pillage many
other countries to do so as its historically yours did. You should be
ashamed.

Please Let's close this excerpt from the chat. Let's move forward.



>  What we have here is a simple and common transaction between two
>> different currencies AND an exchange rate, so I record X, Y and the
>> rate.
>>
>
> But the rate isn't true as it will have changed.  You're fooling yourself
> and, I think, this is why no-one else wants to do this.  It is weirdly
> artificial, people know you're fooling yourself so why formalise it.
>

You is that this fooling yourself.
Only are REAL transactions that have been COMPLETED, PERFORMED, MADE,
EXECUTED, TERMINATED. Valuations (floating rates) are speculations.



> You should investigate the currency XXX with which gnc allows you
> (relatively) open exchange, it might suit you as an intermediate currency.


I've looked and did not serve me.



>   Until you get some more of X at a slightly different rate at which
>>  point the same snack now costs Y.54132
>>
>> No, maybe Yes. I spent all the X money in your rate (1/2), buy more
>> X money in your new rate and follow spending. eg. X=Y*1/3.
>>
>
> This is where your model collapses, unless you maintain cash amounts in
> varying currencies which, if I recall correctly, was what you didn't want
> to do.


We buy and sell none, one or several currencies and not see any problem in
controlling my stock of merchandise (currency).
I do not know if my model is perfect, but it certainly did not collapse
anywhere yet.
if I spend Y100 I will pay with Y50 (rate: 1/2) more Y50 (rate: 1/3) where
X = Y50 *1/2 + Y50*1/3 (split). This is a REAL transaction.



> When I asked for your help in this thread I meant a way to *import*
>> transactions WITH off-line exchange rate from an Excel spreadsheet
>>
>
> OK, I'll say it is not possible.  You wanted an answer, now you have one
> and a why...


To strengthen: Are you saying that GnuCash can not import offline exchange
rates from Excel or any other place because of this approach to
multicurrency we discussed here now?



> I have no sympathy until I have seen a sensible document and I will tell
> you something for free...


I understand it is not easy to abandon old models.


> I've a fair understanding of Trading accounts as implemented by gnc and
> I've read a lot of arguments related to representation of financial
> positions regarding foreign stuff, etc over the years.
>

Great, so you can help me. I do not think my model is perfect, but show me
a problem in it if you can.



> I suggest you take a careful look at gnc's two main views of currency and
> make a decision.
>

I have read and I did not find neither good for work, so I developed my own.



> If you want to know you have half a peso in cash rather than the 2 pesos
> you actually have in your pocket then maybe another accounting paradigm is
> better for you.
>

What I have in my wallet is what I can see, how much is what I have in my
wallet depends on the evaluation, how much I will have tomorrow depends on
the transactions that I realized with what I had in my wallet (or accounts)!

And never entered one peso in my wallet in my life.



> I enjoy talking [to / at] you but you must keep it interesting for other
> people.
>

Thanks.



> P.S. Otherwise Liz devalues me again,, sigh


I may also


Regards
GTI