While the Documentation does cover multi-currency, I don't think it does
so specifically in connection with the Business Features.
There are other folks using GnuCash this way, so I'm sure one of them
can shed some light on the topic.
My guess would be that you simply record the invoices & payments in the
foreign currencies (with a dedicated foreign currency A/R account, per
currency) And use the report options to produce the proper figures in
local currency. (I believe that option is labeled 'nearest in time')
If you would need to book an FX gain/loss, I think that would be a
separate manual transaction.
You may also or optimally need to turn on Trading Accounts.
Regards,
Adrien
On 2/24/26 5:05 PM, Stellios & Sally wrote:
Standard accrual accounting practice directs:
* Foreign currency documents for payables and receivables should be
recorded in the accounts on the dates they are raised in the foreign
currencies with corresponding local currency using the then prevailing
exchange rate.
* Foreign currency payments and receipts are recorded on the date of
payment of receipt with corresponding local currency entries at the then
prevailing spot rate.
Clearly the exchange rates between raising the document and its payment will
almost certainly be different thereby creating a currency gain/loss in the
profit and loss account. GnuCash does not appear to handle this
automatically. As a result, a difference in the Trial Balance equal to the
currency gain/loss arises. The trail balance error is equal to the exchange
rate gain/loss that appears in the local currency's Trading account.
Can someone tell me if I have missed something in GnuCash. Or is this a
feature omission in GnuCash?
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