[GNC] How to handle recurring transactions with currency conversion

[Michael or Penny Novack]

On 7/3/2024 5:14 PM, R Losey wrote:
> Just to keep them separate, I would use usd_amount and chf_amount for the
> variables.
>
> I kind of ignore the currency exchange rate... I enter everything as USD
> because I live in America, and my bank accounts and credit cards are in
> USD.  So, if I have a euro transaction, I may enter it with a guess,  but
> usually I look up how much it turns into in USD and use that number for the
> price of the transaction.
>
> This of course would not work out if I had some bank accounts in USD and
> another in CHF.

This is a perfect example of when to use THIS solution to the multiple 
currency issue. It is the "business analysis" that should take place 
BEFORE choosing how to handle (using gnucash).   An opposite example " I 
live part of the year in A, part of the year in B, different currencies, 
bank accounts in each, only a few transactions a year sending money 
between, but taxes needed to be figured for both". THAT would seem to 
make the "separate books" solution more practical, perhaps using reports 
out if both to get the data to construct reports (outside gnucash )   
for total net worth, what is needed for tax filings, etc. << probably 
just once a year?".

Notice this is not JUST when multiple currencies involved. But I haven't 
yet seen asked on this list "the only currency is EUR, but part year one 
country, part in another, have to be able to do tax filings for both"

Michael D Novack