[GNC] Multiple currencies in split tx

[HSC]

> ------------------------------
> 

> Message: 4
> Date: Thu, 30 Jun 2022 15:03:37 -0700
> From: list+gnucash at jdlh.com
> To: gnucash-user at gnucash.org
> Subject: Re: [GNC] Multiple currencies in split tx
> Message-ID: 2b04aeb5-7f10-cfa9-3960-261bbee4b0e5 at jdlh.com
> 

> Content-Type: text/plain; charset=UTF-8; format=flowed
> 

> Hello, HSC:
> 

> Welcome to GnuCash.
> 

> On 2022-06-30 13:30, HSC wrote:
> 

> > ...Is it possible to account in one GC split entry for a tx in which a payment processor simultaneously makes a payment to two different vendors in two different local currencies?...
> 

> 

> In my experience, yes. I have made some transactions like this.
> 

> > We see it on the statement as one payment in source currency and two in destination currencies, without any details regarding conversion rates.
> > 

> > Do we have to calculate all that manually, and enter in GC as two separate txs?
> 

> 

> My suggestions:
> 

> 1. Read the "Multiple Currencies" section of the GnuCash Tutorial and
> Concepts Guide
> https://www.gnucash.org/docs/v4/C/gnucash-guide/chapter_currency.html
> 

> 

> 2. Enable trading accounts (see 12.3 Automatically Recording Currency
> Transactions?). I have always used trading accounts in GnuCash, so I
> have no experience without trading accounts.
> 

> 3. Know that each transaction has a default currency, but GnuCash does
> not easily show you which currency that is. GnuCash sets the default
> currency to be the currency of whichever account you were in when you
> created the transaction.? If you have three currencies, $AA, $BB, and
> $CC, and you want the transaction's default currency to be $CC, then go
> to an account register which has $CC as its currency, and create the
> transaction there.
> 

> 4. You will have to establish an exchange rate between the currency of
> each split of the transaction, and the default currency of the
> transaction. For each split, if the account for that split uses the
> transaction's default currency, GnuCash will accept the amount you type
> in for that transaction. If the account for that split uses a different
> currency, then GnuCash will display a "Transfer Funds" dialogue (See
> 12.3.2.2. Transfer of Funds to a Foreign Currency). You will have to
> determine an amount of the transaction's default currency which
> corresponds to the split amount, in the split account's currency.
> 

> 4.example. Suppose you have a transaction where you pay $AA 4.00, and
> the payment processor pays out $BB 2.00 and $CC 1.00. Go to the source
> account, which uses $AA. Enter a split for that account with the amount
> 4.00. Add a split with an account which receives the $BB 2.00. Enter the
> amount 2.00. A "Transfer Funds" dialogue appears. Enter the amount of
> $AA which corresponds to $BB 2.00. (You need to determine this yourself,
> if the payment processor does not document it for you.) Then add another
> split with an account which receives the $CC 1.00. Enter the amount
> 1.00. In a similar way, fill out the Transfer Funds dialogue to set up
> an exchange rate between $AA and $CC.
> 

> 5. GnuCash enforces a rule that, within every transaction, the sum of
> all splits using a currency sum to zero. This includes splits with
> trading accounts, which GnuCash creates based on what you entered in the
> "Transfer Funds" dialogue.
> 

> 5.example. In the transaction with a source payment of $AA 4.00, there
> will be one split involving the source account, with a value of $AA
> 4.00, and one or two splits involving the TRADING:$AA account, summing
> to -$4.00. The sum for all the splits in $AA is zero.
> 

> 6. Note that you can use GnuCash as a calculator, by entering
> expressions in amount fields. See GnuCash Guide, 2.9.2.4. Using Entry
> Shortcuts. I use this for splitting the calculating a fraction of the
> total for individual splits.
> 

> This is complicated to describe in words. I recommend doing some trial
> and error to experiment, and learn it that way.? Save a copy of your
> Book file as another name. Open that copy, and make some test
> transactions. When you understand what you want to do, open your
> original Book file, and enter the transaction.
> 

> Does that help?
> 

> Best regards,
> ????? ?Jim DeLaHunt
> 


Thank you very much, Jim DeLaHunt, for such detailed response!
It's most helpful!

Previously tried unsuccessfully to figure it out with trading accounts, but if I understand correctly, the key is to start in the source account.

So, we'll try that next.

HSC
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