[GNC] Multiple currencies and business functions

[Matthew Pounsett]

On Tue, 6 Nov 2018 at 15:30, Christian Kluge <frakturfreak at gmail.com> wrote:

> > The currency logic is pretty simple: every amount you see in the invoice
> > entries is assumed to be in the customer's default currency. They income
> > account for each entry can be in a currency different from the invoice
> > account. In that case a currency conversion will be applied when posting
> this
> > amount to the income account. But as amounts for billable items come
> from the
> > entries, they are assumed to be in the customer's currency.
>
>
> That’s why my solution would be never to income and expense accounts in
> foreign currencies, but only assets and liability accounts in addition
> to the trading accounts.
>

Expense accounts mostly get smoothed into one currency by the effects of
having banks convert on deposit or charge in bank accounts and credit
cards.  Although I still have to deal with foreign currency service charges
on international wire transfers.

I don't think it's reasonable to expect to have only one income currency
with international clients.


> For the actual problem my solution would be as follows.
>
> [..]


> The last operation would be to add a transaction from the temporary CAD
> asset account to your normal USD income account.
>
>
I had to read it a few times, but I think I follow that.  I'll give it a
shot later and see what happens.
Thanks