[GNC] Problem adding a split to a currency conversion.

[Murugan Muruganandam]

David

your entries should be

Dr Assets:Bank account £424
Cr Income:Sales:Services sold worldwide (USD) : 540
Dr Expenses: Bank Fees : £7


when entering the transacitons , conversion pop up will be enabled, use the debit amount option and enter the action amount to avoid conversion issues.


Saludos Cordiales


Murugan

________________________________
From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf of Dr. David Kirkby <drkirkby at kirkbymicrowave.co.uk>
Sent: Tuesday, January 3, 2023 10:08 AM
To: GNU Cash User <gnucash-user at gnucash.org>
Subject: [GNC] Problem adding a split to a currency conversion.

I have the following situation

I'm in the UK, where the currency is GBP
A customer in Poland paid $540 for consultancy via Zoom. He paid in
advance, so I've not added him as a customer under the business features.
My bank used an exchange rate of 1 USD = 0.7981499 GBP
540* 0.7981499 is approximately 431
Bank took a service charge of £7
Bank credited my company with £424

I tried to enter the above into GnuCash. The first thing was

DR: Assets:Bank account
CR: Income:Sales:Services sold worldwide (USD)

I did not enter the exchange rate, but entered the amount of £431 GBP.

So far that looked okay - the sales account credited with $540 and the bank
account a debit of £431.

Next I tried to split the £431 from the bank account, so £7 could be moved
into an account for bank fees. However, this brings up the currency
conversion tool, because it thinks the debit account is USD.

Is trying to split the transaction fundamentally flawed? Or a bad idea?

I can see two ways around this. I'm not sure what is technically best, but
I don't suppose my accountant will be too bothered, as long as explain the
transaction.

1) Add a completely new transaction for the movement of £7 to bank fees.

2) Ignore the £7, and just debit the bank account with £424 instead of
£431. The bank account statement makes no mention of the £431 gross or £7
fees, but only shows the £424 net.