Hello Everyone, Haven’t used GC a couple years, and trying to recollect how it all works.
Current challenge is starting to work with payments and expenses that are exclusively in Bitcoin. Can’t find the Bitcoin stock vs currency discussion in the archive. Sorry if I overlooked it, but I read the workaround here: https://www.gnucash.org/docs/v4/C/gnucash-guide/currency_manual.html https://www.gnucash.org/docs/v4/C/gnucash-guide/currency_trading_accts.html. Seems awkward to treat it as a stock, and not sure that way is even precise, because Bitcoin tx fee is in BTC. Also, the tx fees is just being transferred to the miners; it’s not being sold for fiat by the payer. Main challenge at the moment though is Bitcoin Lightning Network payments. In attached example, the payment is sent to a payment processor via LN, converted to THB and sent to the vendor. If Bitcoin is treated as a stock with USD account unit, then GC first converts it into USD. Then have to account for BTC tx fee by rounding. On LN in particular, the fees are in milisats. (1-e11 BTC) In the example, it would be about 50 milisats = 5.0-e10 BTC. I could calculate what fraction of US cent that would be, but in the long-term would add a lot of accounting time for very small txs. Rounding will compound the errors. Is there a way to automate this calculation? Is my example even the best way to do that? Has anyone experience with some commercial accounting software that handles Bitcoin in an easier way as a currency that it is? Thank you for your attention.
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