If it were me, I'd just register everything in AUD, as an earlier person suggested. If everything comes through PayPal as AUD, why engage in this complexity? Is there a compelling reason to track costs in the original currencies?
Having lived in a number of different countries around the world, I've only created native currency accounts for a very limited number of things, things where I was paying out in a local currency from a local currency-denominated account, such as a local bank account. That just makes reconciling a little easier. Transactions from my native currency to a local currency (e.g., when I buy something in a local store but use my native credit card) I register only in the native currency. Is there something I'm missing here? David T. On Sep 10, 2024, 1:45 PM, at 1:45 PM, Kevin Buckley via gnucash-user <gnucash-user@gnucash.org> wrote: >On Sunday, September 8th, 2024 at 11:40, Megan Tilley ><megan.til...@gmail.com> wrote: >> >> >> This email failed anti-phishing checks when it was received by >SimpleLogin, be careful with its content. >> More info on >https://simplelogin.io/docs/getting-started/anti-phishing/ >> >> ------------------------------ >> Hi everyone! >> >> You all appear to have a good handle on GnuCash, but I am a brand >newbie!!! >> >> My environment is: >> Local Currency: Australian Dollar (AUD) >> Exchange Rates required for: >> == USD >> == GBP (UK) >> == EUR >> == SEK (Sweden) >> - and are usually purchases that I pass through Paypal (no balance in >> Paypal, at all) => buy with AUD and currency conversion made by >Paypal into >> seller's currency >> All my investments are AUD > >Hi Megan, > >the following comes from my tracking of a "multi-currency" card in >GnuCash, >though I can't speak to the "windows" side of your environment. > > >One way to handle this sort of thing, or at least one thing to try out >to >see if it works for you, would be to create a "top level" Asset account > >called > >Paypal > >Then create sub-accounts below that called > >AUD Balance >GBP Balance >EUR Balance >SEK Balance > >each with the Security/Currency set to to be the "foreign" Currency. > > >Beneath the top-level Expenses account, similarly create accounts >such as > >Forex Purchases EUR >Forex Purchases GBP >Forex Purchases SEK > >again with the relevant Security/Currency. > >Now, when you make. say, a "Forex Purchases SEK" purchase, you could >withdraw the money from the > >Assets::Paypal::SEK Balance > >which would be a Transaction (TXN) soley enacted in SEK. but which >would leave you needing to "move" some AUD into the SEK Balance, so >as to leave that as 0.00) at which point you would be able to record >the AUD-SEK exchange rate. > >You might not even need the > >Assets::Paypal::AUD Balance > >account, depending on where you withdraw the AUD monies that go via >Paypal, but, having that account as a "staging" account might help >you keep track. > >As I say, set up a test Gnucash file an play around > >Depending on which currency Paypal deduct their fees in, you might >also want/need to create Expense accounts for, say > >Forex Fees AUD >Forex Fees EUR >Forex Fees GBP >Forex Fees SEK > >and play around with a few TXNs to see if you think that lets you >keep a better record of where your money went. > >HTH > > >_______________________________________________ >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.
