[GNC] Multinational Accounting question...

[John Ralls]

> On Dec 12, 2020, at 4:39 PM, Richard Solomon <richard at beaconreports.net> wrote:
> 
> I am an American expat who operates a small overseas proprietorship. As a
> sole trader I must submit financial accounts domestically as well as in the
> US. Am I able to toggle between base currencies or must I duplicate
> accounting entries in two separate gnucash files in order to report both
> domestically as well as in the USA?

If you use GnuCash reports in preparing your returns you can set the report's currency in options. Note that you need to have at least one exchange rate between the two currencies in your price database. Note that for most reports you'll want to set the price source to nearest in time and that that will pick the price closest to the report date or the report ending date; it does not evaluate a rate for each transaction on the transaction date. You'll probably want to enter a rate manually as the spot market rate retrieved by Finance::Quote is unlikely to be the one you need.

Regards,
John Ralls