[GNC] Exchange rate of income statement report

Gal galbarm at gmail.com
Fri Oct 16 17:01:08 EDT 2020


Michael or Penny Novack wrote
> Accounting is all about information. Maybe if you explained what 
> information was being kept for it would make more sense retaining both 
> in one set of books. Note that if there were some restrictions on 
> conversion, accounts in separate countries subject to such restriction, 
> I would probably suggest separate books.

The information is being kept for personal finance tracking.
I want to be able for example to compare an expense type between different
years.

I understand your point about needing to keep track of the original currency
only if you consider evaluation at other dates, but I still see no drawback
in doing so even if I only, currently at least, care about translation at
transaction date.
I do get the benefit of more convenient transaction entering + keeping data
at its purest original form.

With expenses it may not be so visible but what about incomes?
If my employer pays part of my compensation in forex, should I translate
that too? if not, why distinguish between incomes and expenses?


Regarding the translation by transaction date: the transaction report
mentioned by Christopher Lam was kinda helpful to achieve what I was looking
for.
It seems to implicitly choose "nearest in time" price source, as I couldn't
find a way to change the price source in its options menu.



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