Your understanding is correct, you need to create an entry for opening balance for your current stock in each currency.
Dr. Vintage Instrument Asset account(USD) Cr. Equity Dr. Vintage Instrument Asset account(CAD) Cr. Equity Saludos Cordiales Murugan ________________________________ From: Boniforti Flavio <bonifort...@gmail.com> Sent: 26 August 2024 14:45 To: Murugan Mariappan <m.muruganan...@hotmail.com> Cc: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: Re: [GNC] Assets with two different currencies and buy/sale in different currencies? Hi Murugan. Thanks for your compliments :-) I've indeed a passion for vintage synthesizers (but I also use/play them). Thanks as well for the explanation on how to register such a transaction - I tried and it works flawlessly. Now another (maybe the last?!) question about this topic: am I right assuming that I should set the "Opening Balance" for both of my "vintage instrument" accounts (one in CAD and one in USD) according to what I have in my actual spreadsheet? I mean: I would need to take two different sums, one for the items I bought in CAD and another for the items I bought in USD. Thanks for your help. F. https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com<https://bonny-j.bandcamp.com/> Am Mo., 26. Aug. 2024 um 20:30 Uhr schrieb Murugan Mariappan <m.muruganan...@hotmail.com<mailto:m.muruganan...@hotmail.com>>: First of all, hats off to you for your passion! Vintage instruments are definitely valuable assets and should be captured as assets You can keep two accounts or one asset account, it depends on what currency you want to track the same. When selling one of the instruments say bought in USD but sold in CAD, the transaction will be Dr : Bank Account (CAD) Cr: Vintage Instrument Asset account(USD) When you enter this transaction GNUCash will ask for the exchange rate or the debit amount. So this should be straight forward entry Saludos Cordiales Murugan ________________________________ From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail....@gnucash.org<mailto:hotmail....@gnucash.org>> on behalf of Boniforti Flavio <bonifort...@gmail.com<mailto:bonifort...@gmail.com>> Sent: 26 August 2024 14:13 To: gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org> <gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org>> Subject: [GNC] Assets with two different currencies and buy/sale in different currencies? Hi all. I'm starting to set up my accounts on GnuCash and I'm actually stuck understanding how (or even if) I should add the following. I do own a music studio with a collection of vintage instruments. As the whole gear is worth quite some k, I thought I'd add it as an asset. So first questions here: is it correct? Does it make sense? Let's assume I will add it as an asset, the next question is around the corner. I buy my gear in two different currencies, thus I would've thought to set up two different asset accounts: one in currency A and one in currency B. So far so good. Now the (for me) difficult part comes: I also sell items of my collection sometimes and when I do, the transaction can be in either one of the two currencies I bought them. Assuming I bought an item in USD and I sell it in CAD, how would I have to enter this transaction in GnuCash? As an additional info (maybe irrelevant, but anyways): as of today I maintain a spreadsheet with the price I paid for a specific piece of gear, including the currency I used. At the same time, I do a currency conversion and fill the adjacent column with the converted value (e.g. bought for 1200 USD I put the equivalent 1630 CAD in the other column). Thanks for any help! F. https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Fboniforti_music&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117288045%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=rXnT%2FSlmCwFIYtwl1HWqvtfZ2hBw28ITGmmR5w9WCjM%3D&reserved=0<https://www.instagram.com/boniforti_music> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fsoundcloud.com%2Fboniforti_music&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117303408%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=KVnUyBkbSO0ChtSyS7oyYIXnS%2BQ257L01xy7R5XPvG0%3D&reserved=0<https://soundcloud.com/boniforti_music> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fbonny-j.bandcamp.com%2F&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117316351%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=Dnp1Rmqo1IkMj6l0jOoNa%2BlPefpk9Rk6zSNOaiOkcW8%3D&reserved=0<https://bonny-j.bandcamp.com/> _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org> To update your subscription preferences or to unsubscribe: https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flists.gnucash.org%2Fmailman%2Flistinfo%2Fgnucash-user&data=05%7C02%7C%7C841043ea08794f4355cb08dcc5fb02af%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638602929117328512%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=kDVrPVwwURIWxNHAea836ZfKa%2B1IvmBd62B9K5csUik%3D&reserved=0<https://lists.gnucash.org/mailman/listinfo/gnucash-user> ----- Please remember to CC this list on all your replies. 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