Trading Accounts
Les
lelliott5 at gmail.com
Mon Feb 12 15:27:31 EST 2018
I ran a balance sheet for 2016 and compared the two. Everything looks
the same until I reach the equity account. Here is where the difference
occurs (and I completely missed it initially). In the GC file without
the use of Trading Accounts, I have unrealized gains, whereas in the GC
file using Trading Accounts, I have trading gains.
I think I need to start using Trading Accounts, if I want to obtain a
more accurate set of accounts.
For what it is worth, I have been relying on my brokerage accounts to
determine gains and losses for tax purposes.
I am thinking about copying my production GC file to my test computer
and run balance sheet and income and expense for ye 2017 and compare. I
think it will be significant.
Les
p.s.: I did read the the link from Christopher.
On 02/12/2018 12:05 PM, David Carlson wrote:
> If you read Christopher's links, they go into the theory behind the
> development of trading accounts.
>
> I personally do not need them for my use, so I am not conversant with
> how they work.
>
> I think that you may need them, based on the fact that you are looking
> into using them, but I cannot help with details.
>
> Perhaps another user that does use them can chime in (hint Hint)
>
> David C
>
> On Mon, Feb 12, 2018 at 11:12 AM, Les <lelliott5 at gmail.com
> <mailto:lelliott5 at gmail.com>> wrote:
>
> I use, in addition to USD. AUD, HKD, CAD, CNY and SGD. I buy in
> tranches for average cost. So, not sure that means I have
> complicated trades but I make sure I never have any orphan
> accounts. I checked my test file for capital and it did not list
> any. Although, at the bottom of my accounts list, there is a list
> of currencies and exchanges with totals for each. But, again,
> there isn't any difference in income and expenses.
>
> Les
>
> On 02/12/2018 08:18 AM, David Carlson wrote:
>
> UnfOrtumately I cannot read the article that zchristofer cited
> from my
> clunky Tablet ant tablet really messes up mystery composition
> skills.
>
> I think that if you have always correctly calculated every
> capital gain in
> every closing transaction and never had any ambiguously
> matched lots there
> will not be any overall difference with or without trading
> accounts.
>
> I would guess trading accounts help the most for users with more
> complicated trades.
>
> I am sure that you would need to drill down to the capital
> gains and
> incomes in closing transactions to see where the T A could make a
> difference.
>
> David C
>
>
>
> On Feb 12, 2018 6:53 AM, "Christopher Lam"
> <christopher.lck at gmail.com <mailto:christopher.lck at gmail.com>>
> wrote:
>
> Hi Les
>
> Really interesting question, with a simple and a
> complicated answer.
>
> Simple answer: I think Trial Balance would differ if you
> deal with
> multiple currencies or stock (i.e. multiple conversions
> with differing
> dates and prices).
>
> Complicated answer:
>
> https://www.mathstat.dal.ca/~selinger/accounting/tutorial.html
> <https://www.mathstat.dal.ca/%7Eselinger/accounting/tutorial.html>
>
> https://www.mathstat.dal.ca/~selinger/accounting/gnucash.html
> <https://www.mathstat.dal.ca/%7Eselinger/accounting/gnucash.html>
>
> C
>
> On 12/02/18 20:41, Les wrote:
>
> I have a "test" laptop with GC 2.6.17 running the
> latest Linux Mint. I
> opened GC and tried using Trading Accounts, did check
> and repair, noted the
> totals of assets, liabilities, income and expense
> before and after. There
> was no difference. I then ran a Income and Expense
> report for year 2016
> (which is the same as my production GC and compared
> the two. Again there
> was no difference in totals between the two GC files.
>
> So, exactly what does Trading Accounts actually do? I
> noticed that when
> viewing a stock transaction using auto-split view,
> there are added lines
> showing trading: currencies and trading: exchange and
> stock symbol, that
> does not appear without trading accounts.
>
> Thanks,
>
> Les
>
>
> On 02/12/2018 04:41 AM, David Carlson wrote:
>
> It would be more fun to make a test copy of an
> existing file! 😁
>
> David C
>
> On Feb 12, 2018 4:13 AM, "Les"
> <lelliott5 at gmail.com <mailto:lelliott5 at gmail.com>
> <mailto:
> lelliott5 at gmail.com <mailto:lelliott5 at gmail.com>>>
> wrote:
>
> Thanks, Adrien, David & Christoph for your
> replies. I think
> opening a new GC file and testing Trading
> Accounts is a good idea.
>
> Regards,
>
> Les
>
>
> On 02/12/2018 01:40 AM, Christoph R wrote:
>
> And run “Actions -> Check & Repair ->
> Check & Repair All” to
> add the needed splits to existing
> transactions.
>
> Gruß,
> Christoph
>
> Am 12.02.2018 um 01:27 schrieb David
> Carlson
> <david.carlson.417 at gmail.com
> <mailto:david.carlson.417 at gmail.com>
> <mailto:david.carlson.417 at gmail.com
> <mailto:david.carlson.417 at gmail.com>>>:
>
> I think that if you want to stop
> using trading account s
> it is difficult to
> turn them off.
>
> I would set up a test file to try
> them on until you decide
> whether you like
> them.
>
> David C
>
> On Feb 11, 2018 5:39 PM, "Adrien
> Monteleone"
> <adrien.monteleone at gmail.com
> <mailto:adrien.monteleone at gmail.com>
> <mailto:adrien.monteleone at gmail.com
> <mailto:adrien.monteleone at gmail.com>>>
> wrote:
>
> Yes, you can add trading accounts
> (or any other
> accounts) as needed to your
> current file.
>
> Regards,
> Adrien
>
> On Sun, Feb 11, 2018 at 4:18 PM, Les
> <lelliott5 at gmail.com
> <mailto:lelliott5 at gmail.com>
> <mailto:lelliott5 at gmail.com
> <mailto:lelliott5 at gmail.com>>>
> wrote:
>
> I have been using GC for
> several years, and
> although I trade stocks, I
> have never used the "Trading
> Accounts" option.
> Can I just start using
>
> it,
>
> or would I need to start a
> new GC file?
>
> Thanks,
>
> Les
>
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