Multi-currency expense accounts

Plutocrat plutocrat at gmail.com
Sun Sep 13 23:38:34 EDT 2015


John Ralls wrote on Sunday, 13 September, 2015 08:06 AM:
> 
>> On Sep 12, 2015, at 8:43 AM, T Yeoh <tyeleyt at yahoo.com> wrote:
>> The expense accounts seem to require a currency during set up or it defaults to home currency $
>> When I use the expense account (e.g. "Taxi") under a foreign currency cash account and enter say EUR23, the entry registered in the "Taxi" account is $23 without FX conversion which results in an incorrect total
>> Short of having to duplicate the expense account in the foreign currency, is there any other way to handle this such that the expense account entries are correct? 
> 
> You can’t enter arbitrary currencies. Each account has a currency and all of the splits in that account are denominated in that currency.
> 
> If you’re paying the cab in cash and keeping track of your cash expenditures, create a “Cash in Wallet” account for each currency you use. 

I don't have a lot of foreign currency Expenses, so my solution is to convert them as I enter them into Gnucash, at the prevailing rate. In the description field I'd enter
   "Taxi to Airport, EUR 23" 
and then I'd enter "23 x 1.13" in the amount box to get the correct USD value, (assuming that is the main currency of the accounts). The exchange rate varies a little, but it generally cancels out and I get about the right amount in my Expenses reimbursement. I'm not worried about the odd percent variance. 

[Hint: You can actually type 'EUR 23 in USD' directly into google to get a conversion if you want.]

P.


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