I ran a balance sheet for 2016 and compared the two. Everything looks
the same until I reach the equity account. Here is where the difference
occurs (and I completely missed it initially). In the GC file without
the use of Trading Accounts, I have unrealized gains, whereas in the GC
file using Trading Accounts, I have trading gains.
I think I need to start using Trading Accounts, if I want to obtain a
more accurate set of accounts.
For what it is worth, I have been relying on my brokerage accounts to
determine gains and losses for tax purposes.
I am thinking about copying my production GC file to my test computer
and run balance sheet and income and expense for ye 2017 and compare. I
think it will be significant.
Les
p.s.: I did read the the link from Christopher.
On 02/12/2018 12:05 PM, David Carlson wrote:
If you read Christopher's links, they go into the theory behind the
development of trading accounts.
I personally do not need them for my use, so I am not conversant with
how they work.
I think that you may need them, based on the fact that you are looking
into using them, but I cannot help with details.
Perhaps another user that does use them can chime in (hint Hint)
David C
On Mon, Feb 12, 2018 at 11:12 AM, Les <lellio...@gmail.com
<mailto:lellio...@gmail.com>> wrote:
I use, in addition to USD. AUD, HKD, CAD, CNY and SGD. I buy in
tranches for average cost. So, not sure that means I have
complicated trades but I make sure I never have any orphan
accounts. I checked my test file for capital and it did not list
any. Although, at the bottom of my accounts list, there is a list
of currencies and exchanges with totals for each. But, again,
there isn't any difference in income and expenses.
Les
On 02/12/2018 08:18 AM, David Carlson wrote:
UnfOrtumately I cannot read the article that zchristofer cited
from my
clunky Tablet ant tablet really messes up mystery composition
skills.
I think that if you have always correctly calculated every
capital gain in
every closing transaction and never had any ambiguously
matched lots there
will not be any overall difference with or without trading
accounts.
I would guess trading accounts help the most for users with more
complicated trades.
I am sure that you would need to drill down to the capital
gains and
incomes in closing transactions to see where the T A could make a
difference.
David C
On Feb 12, 2018 6:53 AM, "Christopher Lam"
<christopher....@gmail.com <mailto:christopher....@gmail.com>>
wrote:
Hi Les
Really interesting question, with a simple and a
complicated answer.
Simple answer: I think Trial Balance would differ if you
deal with
multiple currencies or stock (i.e. multiple conversions
with differing
dates and prices).
Complicated answer:
https://www.mathstat.dal.ca/~selinger/accounting/tutorial.html
<https://www.mathstat.dal.ca/%7Eselinger/accounting/tutorial.html>
https://www.mathstat.dal.ca/~selinger/accounting/gnucash.html
<https://www.mathstat.dal.ca/%7Eselinger/accounting/gnucash.html>
C
On 12/02/18 20:41, Les wrote:
I have a "test" laptop with GC 2.6.17 running the
latest Linux Mint. I
opened GC and tried using Trading Accounts, did check
and repair, noted the
totals of assets, liabilities, income and expense
before and after. There
was no difference. I then ran a Income and Expense
report for year 2016
(which is the same as my production GC and compared
the two. Again there
was no difference in totals between the two GC files.
So, exactly what does Trading Accounts actually do? I
noticed that when
viewing a stock transaction using auto-split view,
there are added lines
showing trading: currencies and trading: exchange and
stock symbol, that
does not appear without trading accounts.
Thanks,
Les
On 02/12/2018 04:41 AM, David Carlson wrote:
It would be more fun to make a test copy of an
existing file! 😁
David C
On Feb 12, 2018 4:13 AM, "Les"
<lellio...@gmail.com <mailto:lellio...@gmail.com>
<mailto:
lellio...@gmail.com <mailto:lellio...@gmail.com>>>
wrote:
Thanks, Adrien, David & Christoph for your
replies. I think
opening a new GC file and testing Trading
Accounts is a good idea.
Regards,
Les
On 02/12/2018 01:40 AM, Christoph R wrote:
And run “Actions -> Check & Repair ->
Check & Repair All” to
add the needed splits to existing
transactions.
Gruß,
Christoph
Am 12.02.2018 um 01:27 schrieb David
Carlson
<david.carlson....@gmail.com
<mailto:david.carlson....@gmail.com>
<mailto:david.carlson....@gmail.com
<mailto:david.carlson....@gmail.com>>>:
I think that if you want to stop
using trading account s
it is difficult to
turn them off.
I would set up a test file to try
them on until you decide
whether you like
them.
David C
On Feb 11, 2018 5:39 PM, "Adrien
Monteleone"
<adrien.montele...@gmail.com
<mailto:adrien.montele...@gmail.com>
<mailto:adrien.montele...@gmail.com
<mailto:adrien.montele...@gmail.com>>>
wrote:
Yes, you can add trading accounts
(or any other
accounts) as needed to your
current file.
Regards,
Adrien
On Sun, Feb 11, 2018 at 4:18 PM, Les
<lellio...@gmail.com
<mailto:lellio...@gmail.com>
<mailto:lellio...@gmail.com
<mailto:lellio...@gmail.com>>>
wrote:
I have been using GC for
several years, and
although I trade stocks, I
have never used the "Trading
Accounts" option.
Can I just start using
it,
or would I need to start a
new GC file?
Thanks,
Les
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