Bank/CC to Expense, diff currencies

Sun Mar 19 01:19:30 EDT 2017

Ok, here are the steps:

1) Create USD credit card account Liabilities:Credit Card:USD Visa of type
credit card with security/currency set to USD. <=== This is important.
2) Open that account by double clicking it in the chart of accounts.
3) Enter transaction with today's date Tab Tab Description: Test
transaction Tab Transfer: Expenses:Food:Groceries Tab Tab
Charge(Credit):100 Tab. The Transfer Funds window pops up.
4) Because I know the amount of both sides of the transaction I click on
the To Amount radio button at the bottom of the window. It has estimated
132.99 as the amount, I change it to 133.01. Click on OK.
5) The transaction has now been entered. In the currently open tab (USD
Visa) I have Charge 100.00 and Balance 100.00. I select the transaction and
click on Jump to visit Expenses:Food:Groceries (in CAD) and see the expense
133.01 which has added that amount to my balance.
6) Everything seems to be in order. If I click Split, it looks like this:

Expenses:Food:Groceries Dr. 133.01
Trading:CURRENCY:USD Dr. $100.00
Liabilities:Credit Card:USD Visa Cr. $100.00
Trading:CURRENCY:CAD Cr. 133.01

Then I deleted the transaction to bring my books back in line with reality
and deleted the USD Visa account because I don't (yet) have a USD credit
card. (BTW I was thinking about getting the Chase Amazon Visa with 0%
currency conversion charge but there seems to be a lot of complaints about
declined transactions with that card ... anyway ...).

On 18 March 2017 at 21:29, kr <kr at bell.net> wrote:

> 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.
> >>
> >>
> >>
> >> --
> >> View this message in context: http://gnucash.1415818.n4.
> >> nabble.com/Bank-CC-to-Expense-diff-currencies-tp4690456.html
> >> Sent from the GnuCash - User mailing list archive at Nabble.com.
> >> _______________________________________________
> >> gnucash-user mailing list
> >>
>
> > gnucash-user@
>
> >> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> >> -----
> >> Please remember to CC this list on all your replies.
> >> You can do this by using Reply-To-List or Reply-All.
> >>
> >
> >
> >
> > --
> > 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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>
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>
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>
>
>
>
>
> --
> View this message in context: http://gnucash.1415818.n4.
> nabble.com/Bank-CC-to-Expense-diff-currencies-tp4690456p4690462.html
> Sent from the GnuCash - User mailing list archive at Nabble.com.
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
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> -----
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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