Re: [GNC] Feature request: Stock currency setting
@Wm Thanks for your patient explanation! >> Don't use the orphans for long, *always* move the tx to an appropriate account unless you are the sort of person that throws all their financial documents in a drawer and sorts them out only when they have to. << I was unable to use (e.g. move) the transactions which I orphaned, because they were in the wrong currency. I used the orphaned transactions as models from which to manually transcribe the needed information into new transactions in the correct currency. Once this was done, I deleted the orphans. >> gnc rewards building a good CoA, it is all to do with double entry and good practice, if you come from a single entry finance world it can be more formal than you expect. << As a layperson, I have no doubt oversimplified. My securities accounts are directly under Assets:Inversments:Bank presumably I should have added a currency layer in between. >> Anyway, in the real world stock ABCD bought in two currencies is almost certainly actually two holdings of that stock not one *unless* there was a currency exchange before the purchase, in which case why not reflect that in your accounts? << In my case, it was simply an incorrect interpretation on the part of GnuCash, because the security was linked to the wrong currency. How it could have changed is beyond me. >> A parallel is people owning stock ABCD in a retirement account and an investment account, same stock, two separate holdings, gnc recognizes the separation even though you may not acknowledge it. << Provided the account hierarchy is properly set up ;-) >> In general, use a CASH or BANK type account of CURRENCY CCC to buy a commodity priced in that currency, I do something like this. ASSET mixed stuff below GBP <-- or whatever your book currency is \ USD account \ shares, etc in USD \ EUR account \ shares, etc in EUR It isn't really limiting, all you have to do is put a "plain" account on top of the more complex underlying asset, that way most transactions and reports will work as expected. << Indeed, this is what I learned from the wiki article which I cited in another post. >> And if you think about it, gnc is reflecting reality, when you buy a RUB asset using CHF there are two exchanges, CHF => RUB => commodity. << Indeed, this was the source of my problems, because the bank started out by buying the (USD-denominated) security in CHF, then corrected the transaction after I asked them to make future purchases out of my USD account. Instead they retroactively changed the first transaction, which I had already entered in CHF, instead of making the conversion explicit, as you suggest. Your approach would have saved me a lot of pain, as it took me over a year to figure out how to do it right ;-} ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Feature request: Stock currency setting
On 27/10/2018 13:30, rsbrux via gnucash-user wrote: You can just move the account, but the transaction currency is immutable so you will have to delete and re-create the transaction. As for adding a trading currency to the security editor, it’s possible but the code for creating transaction currency is kind of splattered around (register, transfer dialog, scheduled transactions, importers, maybe more) so getting it right would be a bit of work. << Thanks for the response. To get the desired results, I found it necessary to delete the account I had created for transactions in that security and then > recreate each of the transactions using the "orphaned" transactions as a model. Don't use the orphans for long, *always* move the tx to an appropriate account unless you are the sort of person that throws all their financial documents in a drawer and sorts them out only when they have to. > If currency is a property of a transaction, would it be easier to provide a way to change a transaction's currency than that of a security? Not really. A transaction is between two accounts, gnc's model uses a commodity per account, nothing wrong or right about that, you just have to build your CoA appropriately. That would have at least made it possible for me to reuse the previously entered transactions, by changing their currency and assigning them to the new account. It isn't even clear to me that currency *is* a security property. In the price editor I found prices for the security in question in both CHF and USD. Transactions are cheap, accounts more expensive :) gnc rewards building a good CoA, it is all to do with double entry and good practice, if you come from a single entry finance world it can be more formal than you expect. Anyway, in the real world stock ABCD bought in two currencies is almost certainly actually two holdings of that stock not one *unless* there was a currency exchange before the purchase, in which case why not reflect that in your accounts? A parallel is people owning stock ABCD in a retirement account and an investment account, same stock, two separate holdings, gnc recognizes the separation even though you may not acknowledge it. In general, use a CASH or BANK type account of CURRENCY CCC to buy a commodity priced in that currency, I do something like this. ASSET mixed stuff below GBP <-- or whatever your book currency is \ USD account \ shares, etc in USD \ EUR account \ shares, etc in EUR It isn't really limiting, all you have to do is put a "plain" account on top of the more complex underlying asset, that way most transactions and reports will work as expected. And if you think about it, gnc is reflecting reality, when you buy a RUB asset using CHF there are two exchanges, CHF => RUB => commodity. -- Wm ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Feature request: Stock currency setting
> On Oct 27, 2018, at 5:30 AM, rsbrux wrote: > >>> > You can just move the account, but the transaction currency is immutable so > you will have to delete and re-create the transaction. > > As for adding a trading currency to the security editor, it’s possible but > the code for creating transaction currency is kind of splattered around > (register, transfer dialog, scheduled transactions, importers, maybe more) so > getting it right would be a bit of work. > << > > Thanks for the response. To get the desired results, I found it necessary to > delete the account I had created for transactions in that security and then > recreate each of the transactions using the "orphaned" transactions as a > model. If currency is a property of a transaction, would it be easier to > provide a way to change a transaction's currency than that of a security? > That would have at least made it possible for me to reuse the previously > entered transactions, by changing their currency and assigning them to the > new account. It isn't even clear to me that currency *is* a security > property. In the price editor I found prices for the security in question in > both CHF and USD. > Thanks for your support! The transaction currency is the one used to represent the value of each split (the split’s amount is in the split account’s currency). It’s the currency associated with the account in which you created the transaction. The security’s currency is, as I said earlier, that of the nearest currency-denominated ancestor account. If you use online quote retrieval it should match the currency in which the quotes are denominated to simplify calculating the value of the security in your home currency. The prices you found were probably from creating transactions on the security in the wrong currency: Securities exchanges operate in only one currency and securities that are listed on multiple exchanges have a different symbol for each (e.g. Royal Dutch Shell is listed on EuroNext and the LSE, trading as RDSA and RDSB respectively; there are American Depository Receipts traded on the NYSE as well with tickers RDS.A and RDS.B). Regards, John Ralls ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Feature request: Stock currency setting
> On Oct 21, 2018, at 2:51 AM, rsbrux via gnucash-user > wrote: > > I have been repeatedly frustrated by my failure to remember this advice from > https://wiki.gnucash.org/wiki/Stocks/add_stock#Stocks_noted_in_foreign_currency > > >> > > If you start your first (buy) transaction from your stock account, the > currency of the parent account will be used. Assuming your default currency > is USD and you wish to buy stocks in EUR, then you should first create a > normal asset account of currency EUR and below this your stock accounts. > > Alternatively you could start your first transaction from you EUR cash or > bank account, but with the first approach everything is much clearer - also > later if you forgot the nominal currency. > > << > > I find it far more intuitive to start securities transactions from the > account for the particular security, and I prefer to keep the parent accounts > by account rather than by currency. It is easier to start the transactions > from a security account, because the fields provided are described in keeping > with with securities transactions. However, this often gets me in trouble > with securities traded in a currency other than my base currency (CHF). I > suspect that I am not the only one with this problem. Would it be possible to > add a selection for trading currency in the Security Editor? It could > default to the setting indicated above, but there would at least be a way to > explicitly see and control what is now hidden and implicit. > > As a case in point, I have a bank relationship which includes securities as > well as accounts in both CHF and USD. The bank erroneously booked the > purchase of a USD-denominated security to my CHF account, and I duly recorded > the transaction that way. After I complained to the bank, they rolled back > the transaction and posted it to my USD account instead. Now I see no way of > correcting the entries in GnuCash other than to delete the account for the > particular security and to recreate it via a transaction starting from my USD > account. Am I missing something here? You can just move the account, but the transaction currency is immutable so you will have to delete and re-create the transaction. As for adding a trading currency to the security editor, it’s possible but the code for creating transaction currency is kind of splattered around (register, transfer dialog, scheduled transactions, importers, maybe more) so getting it right would be a bit of work. Regards, John Ralls ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
[GNC] Feature request: Stock currency setting
I have been repeatedly frustrated by my failure to remember this advice from https://wiki.gnucash.org/wiki/Stocks/add_stock#Stocks_noted_in_foreign_currency >> If you start your first (buy) transaction from your stock account, the currency of the parent account will be used. Assuming your default currency is USD and you wish to buy stocks in EUR, then you should first create a normal asset account of currency EUR and below this your stock accounts. Alternatively you could start your first transaction from you EUR cash or bank account, but with the first approach everything is much clearer - also later if you forgot the nominal currency. << I find it far more intuitive to start securities transactions from the account for the particular security, and I prefer to keep the parent accounts by account rather than by currency. It is easier to start the transactions from a security account, because the fields provided are described in keeping with with securities transactions. However, this often gets me in trouble with securities traded in a currency other than my base currency (CHF). I suspect that I am not the only one with this problem. Would it be possible to add a selection for trading currency in the Security Editor? It could default to the setting indicated above, but there would at least be a way to explicitly see and control what is now hidden and implicit. As a case in point, I have a bank relationship which includes securities as well as accounts in both CHF and USD. The bank erroneously booked the purchase of a USD-denominated security to my CHF account, and I duly recorded the transaction that way. After I complained to the bank, they rolled back the transaction and posted it to my USD account instead. Now I see no way of correcting the entries in GnuCash other than to delete the account for the particular security and to recreate it via a transaction starting from my USD account. Am I missing something here? ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
