[GNC] Should i create "Equity Account" for each currency I had ?

[Adrien Monteleone]

Long,

It’s one thing to start a new topic for a truly new question. It is also a good idea to change the subject line of a thread if it really does branch off to something else.

But simply starting a new thread with the same question, though re-worded makes following the discussion difficult for everyone, especially people in the future who will find these threads looking to see if their questions have already been answered.

As to this particular question, I’ve already answered it in your other thread.

I don’t think you are grasping yet, what GnuCash is doing. Perhaps some more use and practice and things will become clearer.

I have trading accounts turned on and I have assets accounts in 16 different currencies. (2 of which are metals) I only have USD equity accounts. (my home currency)

If you have Equity accounts in currencies other than your book currency, either you intentionally or mistakenly created them. I don’t know of a process where GnuCash would create them automatically. (certainly at least not without your confirmation)

Also, the examples in the documentation are just that, examples. They are not the definitive end-all, be-all of how to structure your accounts or transactions. It is a guide to get you started using general accounting principles.

Your own specific needs and legal requirements may vary, so adjust your accounts and transactions accordingly.

Regards,
Adrien

> On Apr 15, 2020 w16d106, at 2:52 PM, Long <Phamhoanglongvn at outlook.com> wrote:
> 
> This is a new topic moved from older topic : Because my question is not
> clearly. 
> -------------
> In GnuCash documents - chapter 12 : They created Equity accounts for each
> currency in their guide.(More details)
> 
> I think, it not good if we follow that, because when the exchange rate
> changed, Your both assets and equity accounts will increasing at the same
> time, Which mean you never know what going on (Trading Gain or Loss) with
> your currency in the Report.
> 
> I think we should follow this way : Create Equity Account for only your
> "Default currency", If your starting balance (Opening Balance) had multi
> currencies, just use "Currency Transfer". By this way, you will know (in the
> report) what happen with your currencies (Trading Gain or Loss) in your book
> period.
> 
> And ... Yes, my question is : My idea is right ?
> 
> Thank you for spent your time to helping me.
> ------------------------------
> Thanks to all, who helped me solved my questions when i'm using GnuCash,
> special Thanks to David Cousens, Adrien Monteleone-2, they are working very
> hard to help GnuCash's Users.