Mr. or Mrs. Novack:
Hello! I am probably not making myself clear in the last e-mail, so I
wish that you could allow me to clarify myself in this e-mail.
I put my game on the Steam platform and priced it in CNY. Let us assume
that purchases happen in March. When players in China buy the game, they
pay in CNY (without having notice of foreign exchange done by Steam's
partner), and Steam possibly receives their payments in USD. At the end
of March, I received an invoice telling me about data for the game's
sales in March, a 30 percent deduction from the Steam platform, and a 10
percent of income tax. At the end of April, I received my part in USD.
I wonder if I clarified myself in this e-mail. If you still have some
points not sure about, I wish that you could let me know it.
Yours,
Bite Gao
May 26th, 2021
On 2022-05-25 22:23, Michael or Penny Novack wrote:
On 5/25/2022 12:01 AM, Gao Bite wrote:
GnuCash Developers and Maintainers:
Hello! I am a Chinese developer who sells games on the Steam
platform. When I sell my game work on steam, I receive the sales
report every month containing data for last month's game selling. And
I will receive last month's money in USD at the end of this month. My
base currency is CNY.
How can I perform my accounting to record the gain and losses from
game selling and foreign exchange separately?
What data is on this statement beyond gross amount in USD? Is the site
doing all transactions in USD (games sold for some price in USD as
opposed to the currency of the buyer). If you are selling different
games at various prices, unless you are told how many of each........
However it might be simpler for somebody like yourself who is the
fabricator of an intangible << most sellers would be selling tangible
goods with an associated "cost of goods" but possibly/probably you do
not* >>
ARE you selling goods at some price in USD, does your statement make
clear how many units sold (at what price) , does it show the fees the
agent is deducting, etc? Possibly there is no currency exchange
involved YET. Maybe the only gains/losses form currency exchange would
between the time you receive this statement and payment in USD and you
get that converted into CNY in your bank account.
In other words, if you receive a statement from the agent "sales in
March were $XXX (as of 3/31) but you do not receive into your bank
account YYY in CNY until April 25th you might want to consider the
value of ($xxx - fees) in CNY as of march 31 the base and any
difference between that and the CNY going into your bank on April
25th a gain or loss from currency exchange.
Michael D Novack
* But if you had programmers working for you, you possibly/probably
would be associating a "cost of goods" separating your business
operation between "production" and "marketing" because you might want
to see how each is doing separately.
_______________________________________________
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.
