Newbie Question

[David Carlson]

If your accounts are in different currencies, which they might be, each one
should be denominated in the correct currency.  The parent accounts
(Assets:Current) probably also need to be set up separately for each
currency.

However, I am not a multi-currency user, so I may be wrong....

David C

On Fri, Jul 7, 2017 at 1:30 PM, Aaron Laws <dartme18 at gmail.com> wrote:

> On Fri, Jul 7, 2017 at 1:54 PM, Paul Leniston <paulleniston at hotmail.com>
> wrote:
>
> > I have just downloaded gnucash and am a little confused.
> >
> >
> > I have two bank accounts, one in UK and one in Spain.   Do I need a
> > differrent common account for each one?
> >
> >
> > In the UK bank I have three accounts.   There is a current account, a
> > deposit account and a credit card account. Do I need a different common
> > account for each one.
> >
> >
> > Finally I have two long term savings accounts at different banks.  Do I
> > need a different common account for each one?
> >
> >
> > thanks in advance
> >
> >
> > Paul
>
>
> The usual way to handle this is to have a root level account, Assets, which
> is a parent of these accounts. It may also be helpful to you for reporting
> purposes to create a subaccount of Assets named Current where you can put
> your "current" assets. The credit card is not as asset since it accumulates
> debt (liabilities), so it should not be found under the Assets root level
> account. You will likely create another root level account, Liabilities,
> and again might consider creating a subaccount thereof, Current, for your
> "current" liabilities. So, something like this:
>
> Assets
> |
> ---Current
>    |
>    --- UK Chequing
>    --- UK Saving
>    --- Spain Savings
> Liabilities
> |
> ---Current
>    |
>    --- UK Credit Card
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