[GNC] International Currency Transactions?

[Jim DeLaHunt]

On 2024-01-03 07:13, Eric H. Bowen via gnucash-user wrote:
> I'm based in the US and so all of my transactions have been in USD; 
> when that isn't the case my credit card company has taken care of the 
> currency conversion. But I have a new printing vendor now with several 
> plants overseas which bill in the local currency. I just ordered a POD 
> copy of a book to be delivered in the UK, billed in Pounds Sterling. 
> I've created a vendor invoice, itemized, with the various line item 
> prices.
>
> What's the most efficient and flexible way to convert this to USD for 
> accounting and tax purposes? I see that GnuCash does have a currency 
> conversion/price editing feature, but I'm not sure of how to make it 
> work for this application. I'd appreciate a pointer to a tutorial.

Welcome to the world of multiple-currency bookkeeping in GnuCash.

The Gnucash Tutorial and Concepts Guide, chapter 12. "Multiple 
Currencies" is a fine place to start.
<https://gnucash.org/docs/v5/C/gnucash-guide//chapter_currency.html>

Also, a good way to experiment with GnuCash features which you don't 
know well is to make a separate book file with test data, to try out 
features and workflows.  Once you understand how that part of GnuCash 
works, and what steps to take to accomplish your goals, repeat the 
process with your real book file and real data.

Best regards,
      —Jim DeLaHunt, Vancouver, Canada