[GNC] lost balancing a USD bill with AUD bank account

[AP]

Hi,

On Sun, Nov 19, 2023 at 02:42:57PM +1000, David Cousens wrote:
> Unless you have a lot of business in USD it is not generally worth setting up a
> separate USD account. I usually do the occasional purchase totally in AUD with a
> note in the description of the USD->AUD conversion rate. In this case the
> transaction looks like:
> 
> Bank Account   Cr AUD value of USD purchase + AUD Transaction Fee
> Expense:Purchases  Dr AUD value of the USD purchase   (could also be an asset
> account if a capital purchase)
> Expense:Bank Fees  Dr AUD Transaction Fee.

So basically you convert the charges for individual items within the bill so that
the bill comes out in AUD?

> If you maintain funds in a USD account for such purchases as you might in a
> business situation where purchases are regular then the situation is different.

Not business but this is a regular monthly charge. Still need to choose something
that makes sense and your method (if I'm right) does have the advantage of linking
payment and bill nicely.

AP