Bank/CC to Expense, diff currencies

[kr]

Thanks for the reply. Unforunately (for me) one of the first things I did was
turn on the trading accounts feature. If you would be so kind, would you
please run through entering an expense transaction going from a 'foreign'
currency asset account to a default currency expense account. Thanks


Edward Doolittle wrote
> My setup is quite similar to yours, and I don't have your problem (if I
> understand it correctly). In fact, a lot of my problems with multiple
> currencies (due to my own ignorance or otherwise) went away when I
> switched
> to trading accounts, File -> Properties -> Accounts -> Use Trading
> Accounts.
> 
> Trading accounts are not for everyone ... they're not consistent with
> current generally accepted accounting principles, if I understand
> correctly, and they're hard to understand at first, but I would never
> willingly go back to the way things were before.
> 
> If you are interested in going that way, read the wiki page
> https://wiki.gnucash.org/wiki/Trading_Accounts and follow the links to the
> guides and tutorials. After trading accounts are set up, Actions -> Check
> &
> Repair may help with your historical transactions.
> 
> On 18 March 2017 at 12:58, kr <

> kr@

> > wrote:
> 
>> Running latest GC on Win 10, household accounting so no tax
>> considerations.
>> Home currency is CND but I have Bank, CC's and Cash accounts set up as GC
>> accounts to reflect USD and EUR currencies as well as CND ones, (this can
>> be
>> confusing so hereafter refered to as GCa/c). All of my expense GCa/c's
>> are
>> in CND. I am hoping to find a way to enter a purchase from a USD bank
>> account (Credit) and charge it to a CDN expense GCa/c, such as:
>>
>> Wine Dr. CDN $135.00
>>    USD Visa Cr. USD $ 100
>>
>> I would expect to calculate and enter the CDN amount when the transaction
>> is
>> processed in GC. This is proving to be impossible. When entering the
>> transaction in the USD Vias GCa/c the transfer window which pops up
>> insists
>> on making the Debit Account the USD currency and the Credit Account the
>> CND
>> currency. This, of course, is the reverse of the example noted above and
>> no
>> matter how I play with alternative schemes to enter the amount, nothing
>> works. The best I can do is a Dr and Cr which equal each other, in the
>> example above $100 for both currencies. I tried entering the transaction
>> in
>> the CND Wine expense GCa/c and got the Debit and Credit currencies
>> orientated correctly but the transaction still ended up with
>> Out-of-Balance
>> amounts. However, even if this 'worked' it would be hopelessly
>> inefficient
>> with numerous transactions going to many different expense accounts.
>>
>> I've spent 2 to 3 hrs searching this site for an answer to this question
>> without success. Discussions which came close were 5 to 10 yrs old so I
>> am
>> writing to see if there is any newer information or to be told it will
>> not
>> work so forget it! I should add that a separate set of expense accounts
>> paired to each non-CND asset or liability is also something I would like
>> to
>> avoid.
>>
>> Thanks for any help you can provide.
>>
>>
>>
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> 
> 
> 
> -- 
> Edward Doolittle
> Associate Professor of Mathematics
> First Nations University of Canada
> 1 First Nations Way, Regina SK S4S 7K2
> 
> « Toutes les fois que je donne une place vacante, je fais cent mécontents
> et un ingrat. »
> -- Louis XIV, dans Voltaire, Le Siècle de Louis XIV, Chap. XXVI
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