[GNC] gnucash-user Digest, Vol 250, Issue 4

[Eric H. Bowen]

Thanks for the reply. I've read through that section of the manual, and 
I see how to, for example, account for a purchase of a boat in Hong Kong 
with Hong Kong dollars on deposit in a bank in Hong Kong.

What I don't see is how to account for a purchase of books in the United 
Kingdom, with an invoice denominated in GBP, which will be settled up by 
an international debit card payment from a bank in the USA at whatever 
exchange rate VISA is currently charging. I've set up a "sandbox" file 
with a currencies Price List and I've attempted to change the "Purchase 
Information" of the vendor on the bill to GBP, but the program locks up 
when I attempt to post it to Accounts Payable. I've tried creating a 
GBP-denominated Accounts Payable sub-account, but GnuCash apparently 
doesn't like that one bit either.

I'm at the start of what will hopefully be a long-term undertaking, and 
I want to set off on the right foot. Thanks for your help----Eric.

On 1/4/2024 11:00 AM, gnucash-user-request at gnucash.org wrote:
> Message: 2 Date: Wed, 3 Jan 2024 12:38:10 -0800 From: Jim DeLaHunt 
> <list+gnucash at jdlh.com> To: gnucash-user at gnucash.org Subject: Re: 
> [GNC] International Currency Transactions? Message-ID: 
> <76c83d2b-24c3-4b0f-b33a-afb2fa2b4702 at jdlh.com> Content-Type: 
> text/plain; charset=UTF-8; format=flowed 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
>