Dave This is the crucial step
>"It's the one bank account - I don't have different account numbers for > different currencies, and can't hold balances in anything other than GBP." In this case there generally is no need to have an account in another currency. If you can record all you need by adding a note that the orignal deposit/withdrawal was so much of another currency at the exchange rate valid at the time. When I was last travelling on holidays I had a debit card whose balance was recorded in another currency (SGD) and transactions recorded with it were made in that currency so it made sense to set up accounts in that currency and record the transfers from my bank account to itand back when I returned. When I was working my business credit card was in AUD but I could use it in most countries around the world and did. The bank did the conversions, added fees etc so I had no need to maintain accounts for transactions in other currencies I just recorded my expenses in AUD, usually with a note about the cost in the original currency (mainly because some were refundable by my employer and I had to provide receipts and match them to the AUD amounts i was claiming). When setting up an account structure, I always ask myself what information is it recording and for what purpose and in what form do I need that information. That usually sorts out whether I need a specific account or not. David Cousens On Thu, 2022-12-22 at 15:56 +0000, Dr. David Kirkby wrote: > My Bank is a UK bank, but I sometimes buy things in $HKD, and fairly > regularly receive payments in USD and EUR in addition to the obvious GBP. > Should I set up accounts like this? (American's call them checking > accounts, but we don't here). > > Assets: Current Assets: Bank Account (GBP) > Assets: Current Assets: Bank Account (USD) > Assets: Current Assets: Bank Account (EUR) > Assets: Current Assets: Bank Account (HKD) > > It's the one bank account - I don't have different account numbers for > different currencies, and can't hold balances in anything other than GBP. > > I initially assumed I needed 4 accounts for 4 currencies, but now I'm > wondering if I can avoid that complexity, given I can only have a balance > in GBP. > > Dave > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.