GNUCash Import QIF - Help Please!

[Alex Aycinena]

>
>
> ---------- Forwarded message ----------
> From: GT-I9070 H <gti9070h at gmail.com>
> To: David Carlson <david.carlson.417 at gmail.com>
> Cc: gnucash-user at gnucash.org
> Date: Tue, 23 Jun 2015 12:46:18 -0400
> Subject: Re: GNUCash Import QIF - Help Please!
> 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 hope I was clear, I hope now you can understand.
>
> Regards
> GTI
>
>
>
Work is underway on a new feature that should allow you to do this with
Gnucash. It should be available in the next major release.

Alex