Using multiple currencies

[Ruth Morley]

[image: Inline image 1]
This is a register -- the structure of the French accounts is under a
heading French Assets and French Expenses ..all defined as euros.
When I enter each transaction I am prompted for an exchange rate .. the
charges are correct -- in euros but the balance
is incorrect..however in looking further it is not in USD either..I will go
back to the drawing board..I have defined the problem incorrectly..back
later

On Sat, May 7, 2016 at 5:59 PM, John Ralls <jralls at ceridwen.us> wrote:

>
> On May 7, 2016, at 1:31 PM, Ruth Morley <morley.ruth at gmail.com> wrote:
>
> Yes both sides of the double entry are in euros but the balance column
> shows up in dollars. Also it prompts me km ever y transaction for an
> exchange rate which actually makes sense if it is storing the rate but I
> would like the balance to be in euros although I suppose at some point in
> summarizing data it needs one currency..net worth for instance. Beginner
> Ruth
> On May 6, 2016 5:18 PM, "John Ralls" <jralls at ceridwen.us> wrote:
>
>
> > On May 6, 2016, at 1:05 PM, Ruth Morley <morley.ruth at gmail.com> wrote:
> >
> > Newbie - I have built a chart of accounts for here in the US and included
> > assets and expenses in France. When I enter my transactions against my
> > French bank it asks for an exchange rate and enters them in USD. I have
> > described this as a euro account and want to keep it in euros. Can I do
> > that? How?
>
> To avoid exchange rates both split accounts must be in the same currency,
> so you need to have a set of expense accounts denominated in EUR and be
> sure to use those accounts for transactions with your EUR asset accounts.
>
>
> Ruth,
>
> Please remember to copy the list on all replies using "reply all" on your
> mail client.
>
> Are you perhaps using the General Ledger to create the transactions rather
> than the register of one of the accounts that will participate in the
> transaction?
>
> Reports and the roll-ups on the Accounts page use exchange rates from the
> price database to convert balances in foreign currencies to your primary
> one. You can use Tools>Price Editor to add prices outside of transactions.
>
> Regards,
> John Ralls
>
>
>
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