Dear all,
I have been playing around with commodities because I frequently spend
money in different currencies and I then settle it with an internal
currency exchange within my own accounts.
I would like to understand if the following 2 samples are exactly
equivalent or, otherwise, what distinguishes them.
Sample #1
2021/05/20=2021/05/22 * Starbucks
Expenses:Food 100.00 USD {=0.8 GBP}
Assets:Paypal -90.00 EUR
2021/05/31 * Currency Exchange
; Starbucks payment settlement
Assets:Paypal 90.00 EUR
Assets:Paypal -80.00 GBP
Sample #2
2021/05/20=2021/05/22 * Starbucks
Expenses:Food 100.00 USD @@ 80.00 GBP
Assets:Paypal -90.00 EUR
Assets:Paypal 90.00 EUR ; [=2021/05/31]
Assets:Paypal -80.00 GBP
What I am trying to record here is the following:
On May 21 I use my paypal card to pay a bill of 100 USD at Starbucks.
My paypal's default account is EUR, therefore it debits 90 EUR from my
wallet (automatic conversion).
My income is in GBP so I rather settle my expenses in that same currency,
therefore I do a currency conversion within my Paypall app, buying 90 EUR
with 80 GBP. Because this is a manual process, sometimes it happens only a
few days later (on May 31 in this example).
Would you agree with my way of recording these transaction or would you do
it differently?
Many thanks, POliveira
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