On Wed, Dec 29, 2021 at 11:51 AM Pierre Bastoul <[email protected]> wrote: > > Hello, > > I'm working on tracking my cryptocurrencies trades with ledger-cli as > described in the "Multiple currencies with currency trading accounts" wiki > page. > > My first idea is not to have a default Fiat, I prefer not having a local > currency point of view. I want to be able to track trades for all pairs like > BTC to USDT, then BTC to ETH, the ETH to USD, and be able to do "swaps" in > all available possible combinations. > > So I started with only one trading account, expressed in many currencies: > Equity:Trading:USD > Equity:Trading:ETH > Equity:Trading:BTC > Equity:Trading:JPY > .... >
Greetings Hmmmmmm - - - well - - - most of us keep our records (record keeping - - - -most commonly called accounting) as much for the tax man (the man) as we do to manage our businesses or our finances. The requirement for 'books' for the taxman is that 'everything' is in ONE currency. If other currencies are used everything is linked back to that 'home' currency. The tax man really doesn't care about your costs or what you're spending money on or most of any other details. They're looking to see that your income is reported accurately and that you're not trying to 'fiddle the books' by either misreporting income or expenses. So if you're insisting that any currency goes - - - - well - - - I hope you really never get audited. My guess is that that process would be very very painful. Haven't had the joy myself but I've heard that they use a fine toothed comb to make sure that not one hair is out of place on your hemorrhoids. I'm trying to come up with a way to use ledger for invoicing which would be hugely useful for business purposes. I would suggest that what you're looking for would be fine if you do it for just you but I wouldn't suggest that a any currency goes in a general ledger be a normal thing. (And yes, right now I'm usually only using 3 currencies so I'm not just using a 'home' currency.) Just because one can do something doesn't mean that you 'should' do it. Regards -- --- 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/CAPpdf58Ccv2m5-7WUtL9va4jbrwCTaA6UgkR3njU-sMuocGKtQ%40mail.gmail.com.
