[GNC] Assets with two different currencies and buy/sale in different currencies?

[Boniforti Flavio]

Hi Murugan.
Thanks for your compliments :-) I've indeed a passion for vintage
synthesizers (but I also use/play them).

Thanks as well for the explanation on how to register such a transaction -
I tried and it works flawlessly.
Now another (maybe the last?!) question about this topic: am I right
assuming that I should set the "Opening Balance" for both of my "vintage
instrument" accounts (one in CAD and one in USD) according to what I have
in my actual spreadsheet? I mean: I would need to take two different sums,
one for the items I bought in CAD and another for the items I bought in USD.

Thanks for your help.
F.

https://www.instagram.com/boniforti_music
https://soundcloud.com/boniforti_music
https://bonny-j.bandcamp.com


Am Mo., 26. Aug. 2024 um 20:30 Uhr schrieb Murugan Mariappan <
m.muruganandam at hotmail.com>:

> First of all, hats off to you for your passion! Vintage instruments are
> definitely valuable assets and should be captured as assets
>
> You can keep two accounts or one asset account, it depends on what
> currency you want to track the same.
>
> When selling one of the instruments say bought in USD but sold in CAD, the
> transaction will be
>
> Dr : Bank Account (CAD)
> Cr: Vintage Instrument Asset account(USD)
>
> When you enter this transaction GNUCash will ask for the exchange rate or
> the debit amount.  So this should be straight forward entry
>
>
>
> Saludos Cordiales
>
>
> Murugan
> ------------------------------
> *From:* gnucash-user <gnucash-user-bounces+m.muruganandam=
> hotmail.com at gnucash.org> on behalf of Boniforti Flavio <
> boniforti.f at gmail.com>
> *Sent:* 26 August 2024 14:13
> *To:* gnucash-user at gnucash.org <gnucash-user at gnucash.org>
> *Subject:* [GNC] Assets with two different currencies and buy/sale in
> different currencies?
>
> Hi all.
> I'm starting to set up my accounts on GnuCash and I'm actually stuck
> understanding how (or even if) I should add the following.
> I do own a music studio with a collection of vintage instruments. As the
> whole gear is worth quite some k, I thought I'd add it as an asset. So
> first questions here: is it correct? Does it make sense?
> Let's assume I will add it as an asset, the next question is around the
> corner. I buy my gear in two different currencies, thus I would've thought
> to set up two different asset accounts: one in currency A and one in
> currency B. So far so good. Now the (for me) difficult part comes: I also
> sell items of my collection sometimes and when I do, the transaction can be
> in either one of the two currencies I bought them. Assuming I bought an
> item in USD and I sell it in CAD, how would I have to enter this
> transaction in GnuCash?
>
> As an additional info (maybe irrelevant, but anyways): as of today I
> maintain a spreadsheet with the price I paid for a specific piece of gear,
> including the currency I used. At the same time, I do a currency conversion
> and fill the adjacent column with the converted value (e.g. bought for 1200
> USD I put the equivalent 1630 CAD in the other column).
>
> Thanks for any help!
> F.
>
>
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Fboniforti_music&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117288045%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=rXnT%2FSlmCwFIYtwl1HWqvtfZ2hBw28ITGmmR5w9WCjM%3D&reserved=0
> <https://www.instagram.com/boniforti_music>
>
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fsoundcloud.com%2Fboniforti_music&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117303408%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=KVnUyBkbSO0ChtSyS7oyYIXnS%2BQ257L01xy7R5XPvG0%3D&reserved=0
> <https://soundcloud.com/boniforti_music>
>
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fbonny-j.bandcamp.com%2F&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117316351%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=Dnp1Rmqo1IkMj6l0jOoNa%2BlPefpk9Rk6zSNOaiOkcW8%3D&reserved=0
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