Thanks for the reply. I've read through that section of the manual, and
I see how to, for example, account for a purchase of a boat in Hong Kong
with Hong Kong dollars on deposit in a bank in Hong Kong.
What I don't see is how to account for a purchase of books in the United
Kingdom, with an invoice denominated in GBP, which will be settled up by
an international debit card payment from a bank in the USA at whatever
exchange rate VISA is currently charging. I've set up a "sandbox" file
with a currencies Price List and I've attempted to change the "Purchase
Information" of the vendor on the bill to GBP, but the program locks up
when I attempt to post it to Accounts Payable. I've tried creating a
GBP-denominated Accounts Payable sub-account, but GnuCash apparently
doesn't like that one bit either.
I'm at the start of what will hopefully be a long-term undertaking, and
I want to set off on the right foot. Thanks for your help----Eric.
On 1/4/2024 11:00 AM, gnucash-user-requ...@gnucash.org wrote:
Message: 2 Date: Wed, 3 Jan 2024 12:38:10 -0800 From: Jim DeLaHunt
<list+gnuc...@jdlh.com> To: gnucash-user@gnucash.org Subject: Re:
[GNC] International Currency Transactions? Message-ID:
<76c83d2b-24c3-4b0f-b33a-afb2fa2b4...@jdlh.com> Content-Type:
text/plain; charset=UTF-8; format=flowed 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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