On 2024-01-03 07:13, Eric H. Bowen via gnucash-user wrote:
I'm based in the US and so all of my transactions have been in USD;
when that isn't the case my credit card company has taken care of the
currency conversion. But I have a new printing vendor now with several
plants overseas which bill in the local currency. I just ordered a POD
copy of a book to be delivered in the UK, billed in Pounds Sterling.
I've created a vendor invoice, itemized, with the various line item
prices.
What's the most efficient and flexible way to convert this to USD for
accounting and tax purposes? I see that GnuCash does have a currency
conversion/price editing feature, but I'm not sure of how to make it
work for this application. I'd appreciate a pointer to a tutorial.
Welcome to the world of multiple-currency bookkeeping in GnuCash.
The Gnucash Tutorial and Concepts Guide, chapter 12. "Multiple
Currencies" is a fine place to start.
<https://gnucash.org/docs/v5/C/gnucash-guide//chapter_currency.html>
Also, a good way to experiment with GnuCash features which you don't
know well is to make a separate book file with test data, to try out
features and workflows. Once you understand how that part of GnuCash
works, and what steps to take to accomplish your goals, repeat the
process with your real book file and real data.
Best regards,
—Jim DeLaHunt, Vancouver, Canada
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