Indeed I follow more or less psionl0's suggested approach. The only situation I am unsure to deal with then is when I have some sort of online wallet where I can hold multiple currencies and/or commodities. Imagine like a brokerage platform where I can hold both currencies and stocks. How would you do in that case?
On Mon, Dec 13, 2021 at 6:49 AM psionl0 <[email protected]> wrote: > Since cash holdings don't have bank statements associated with them, it is > acceptable to use a single Assets:Cash account with multiple currencies. > Your balance report will show how much of each currency is held in the cash > account. > > On Sunday, December 12, 2021 at 1:05:16 PM UTC+8 POliveira wrote: > >> In addition, there is a 4th Case I forgot to mention, which is cash >> holdings. >> Do you recommend having a single account Assets:Cash with multiple >> currencies in it or instead separate accounts as in Assets:Cash:EUR , >> Assets:Cash:USD etc.? And why? >> >> On Saturday, December 11, 2021 at 12:50:24 PM UTC+4 POliveira wrote: >> >>> Dear all, >>> >>> I wanted to know your opinion regarding how to emulate multi-currency or >>> multi-commodity accounts. >>> I understand this is ultimately subjective, but I hope someone can >>> provide me some guidance. >>> >>> Case #1 >>> >>> I have multiple bank accounts with my Bank, denominated in different >>> currencies. Each account has a distinct account number and I receive an >>> individual account statement for each one of them. >>> >>> Question: Should I (option 1) create/use a separate account in ledger >>> (Assets:My Bank:EUR and Assets:My Bank:USD) OR should I (option 2) have >>> only one account (Assets:By Bank) which then has holdings in both >>> currencies? >>> >>> I am currently using option 1. >>> >>> Case #2 >>> >>> I have an online wallet (imagine something like Paypal, Skrill, or >>> Revolut) where I hold multiple currencies and I can do instant currency >>> exchanges. For this type of services, I do not receive any statement, >>> although I could download one on-demand. Depending on the specific service, >>> I may or may not be able to download individual statements for each >>> currency. >>> >>> Question is the same as in Case #1. However, in this case I am using >>> option 2. >>> >>> Case #3 >>> >>> I have an online brokerage account which I use to buy commodities (let's >>> say, corporate stocks). In this platform, I will have a portfolio of >>> multiple stocks AND I may have a balance of multiple currencies as well. >>> >>> Question is the same again. In this case I am using option 2 too. >>> >>> So, at the end of the day, I would like to know how do you decide >>> whether to use multiple single-currency/commodity accounts or a single >>> multi-currency/commodity account? >>> >>> Also, what do you find to be the advantages and disadvantages of each >>> approach. >>> >>> Many thanks, POliveira >>> >> -- > > --- > You received this message because you are subscribed to the Google Groups > "Ledger" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/ledger-cli/75d70b6b-0bcd-408a-8358-f3f69f481445n%40googlegroups.com > <https://groups.google.com/d/msgid/ledger-cli/75d70b6b-0bcd-408a-8358-f3f69f481445n%40googlegroups.com?utm_medium=email&utm_source=footer> > . > -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/CAOi8OU%2BMRKKPuY_oPbTigHm676wFO6UOWQ4JTaUesiSx1Qh-HA%40mail.gmail.com.
