[GNC] gnucash suggestions

[Kalpesh Patel]

Just in case this is lost or not known, a new namespace can be created by simply specifying text in the namespace field when defining a "new" commodity or security. Existing commodity or security can be shuffled or put under a new namespace by editing the security and simply typing in new string in the namespace field. Only one that cannot be changed or added into is the "Currencies" namespace and what it contains. "FUNDS" (for mutual funds?) and "NYSE" (for securities/stocks?) are, I believe, carried forward as historical but when creating a new file, "FUNDS" and "NYSE" are not created, at least not on the Window version of 4.18 GNC that I am testing on.

I actually use this capability and have created namespace for exchanges to place security into where it is traded (according to Yahoo since I screen scrape for EOD updates via Python script), as well as tracking investments in paintings by artists where artist is a "security" and each painting is an "asset" under a "brokerage" account. It works well.

As for tracking things like miles earned, etc., I believe there is always in-direct way of finding conversion ratio, albeit it may change every time you use it but it is there. More so as different airlines have different conversion rates so this only make sense to set it up that way. Just an idea with one time setup (*PLEA - Accounting SMEs please weight in if this doesn't look right*): create a new name space called "Airline Mileage", create each airline mileage program as a commodity under it, and then create an parent asset account called "Earned Mileage" and then you can track mileage that is earned from each program. All those "bonus" miles that are earned are one way or another convertible to official "Currency".


-----Original Message-----
From: R Losey <rlosey at gmail.com> 
Sent: Monday, March 18, 2024 6:51 PM
To: Tommy Trussell <tommy.trussell at gmail.com>
Cc: J. A. Harris <product at harrisja.us>; gnucash-user at gnucash.org
Subject: Re: [GNC] gnucash suggestions

On Mon, Mar 18, 2024 at 5:43 PM Tommy Trussell <tommy.trussell at gmail.com>
wrote:

> On Sun, Mar 17, 2024 at 4:37 PM J. A. Harris <product at harrisja.us> wrote:
>
> > On 3/17/24 15:54, Michael or Penny Novack wrote:
> > > Those are "commodities"
> >
> > I am aware of that.  Currencies, Funds, and NYSEs are all particular
> > types of Commodities. There is no current support in gnucash for
> > defining Commodities other than those three types.
> >
>
> I wanted to keep track of mileage for corporate reimbursement purposes, so
> I created a "FUND" with the symbol "Miles" abbreviated "M," and I created a
> Liability account called Mileage, whose currency is Miles, with a contra
> liability account called "Driving Owed," whose currency is Dollars. Every
> time I enter "Miles" in the register, I make sure its exchange value in
> Driving Owed dollars matches the current IRS reimbursement rate (which can
> sometimes change multiple times during the year).
>
> When the company does a reimbursement for Driving Owed, a bank transaction
> happens so the contra account to Driving Owed is the corporate bank
> account.
>
> Maybe this is a perversion of the system somehow, but it seems to work for
> me.
>
> It seems if you wanted to keep track of Credit Card Points or Airline Miles
> or whatever, you could create a similar "currency" or "fund" that matches
> your specification. But I presume there is some reason it doesn't work for
> you in the same way mileage does in my example.
>
>
You're not alone; I do something similar; for tracking the bonus points for
retailer "Fred", I created a "stock"  with the Symbol FBP (Fred Bonus
Points) and use it to track points in and out of the bonus account.

-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8