Re: Unit Trusts assistance development

[Aaron Laws]

On Sun, Sep 17, 2017 at 3:27 PM, Hylton Conacher (ZR1HPC) <
hyl...@conacher.co.za> wrote:

>
> John, whilst I respect your contribution i.t.o. development of GnuCash, I
> feel you certainly need to take a refresher course in customer service.


Whereas gnucash is Free Software (I'm not talking about cost), the
developers are volunteers, and there are no customers of GnuCash, I
strongly disagree. Nobody is entitled to receive help with Free Software.
Instead, the appropriate response to developers' and expert users'
responding to inquiries rather than spending their time sitting in a sauna
is thankfulness.
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Re: Unit Trusts assistance development

[Derek Atkins]

Hylton,

"Hylton Conacher (ZR1HPC)"  writes:

> My issue is related to the fact that I cannot create the account
> opening balances as at 31/08 from my paper statement which shows both
> the price, the number of units held and the closing market ZAR value
> of the units held in that particular unit trust asset.
>
> Using either a Mutual fund or Stock, did not allow me to correctly
> show the opening ZAR value of my unit trusts. When I open a new
> account as a mutual fund, it mistakenly marks the ZAR value of this
> asset as negative. According to John a course in basic accounting
> would fix this, however nowhere have I ever seen an asset marked as a
> negative currency value.

A Liability can be viewed as a negative asset.

> Should I try and open a new account as a stock, the tab on the new
> account windows indicating Opening Balance' is greyed out, just as it
> is on a Mutual Fund?


You seem to be under the impression that there is something "special"
about an opening balance.  This is not the case.  An opening balance is
just a "regular" transaction between the account and the "special"
account Equity:Opening Balances.  The New Account Dialog will
automatically create this equity account if it does not already exist,
and will automatically create this transaction for you.  However you can
always just create that transaction by hand.

> I basically need to add a Current Asset called Unit Trusts which
> totals the ZAR value of its sub accounts, of which there will be five
> named AG-Bal, AG-E, AG-MM, AG-O, Cor-Balp each with an opening balance
> on the 31/08/2017 consisting of number of units to 4 decimal places, a
> unit price in cents to 2 decimal places/(ZAR to 4 decimal places) and
> a closing market value, in ZAR to 2 decimal places, which depending on
> the fund may/may not be the product of units x price i.e. the closing
> market value.
>
> THIS IS THE CRUNCH:
> THE OPENING BALANCE ZAR VALUE OR THE CLOSING MARKET VALUE ON THE
> PREVIOUS DAY MAY/MAY NOT BE THE PRODUCT OF UNITS OWNED X PRICE

GnuCash does not store the unit price.  It's is ALWAYS dynamically
computed.  GnuCash stores everything in #units, and the total value in
the transaction currency (which *should* be the currency of the
stock/mutual parent account, but it all depends on the currency of the
account where the transaction is created).

> A single account on my paper statement shows:
>
> Units: 6659.22
> Unit Price(cents): 2245.70
> Closing Market Value: ZAR 149546.01

As an opening balance you really should be using the account basis and
not the current value.  Assuming this closing market value is your
account basis, then you should enter this as 6659.22 units for a total
price of ZAR 149546.01.  But of course thi sis assuming that is the
correct basis.

> I am hopeful, once I can get the Opening Balances completed, that I
> will then be able to figure out how transaction will be entered
> correctly so at least my assets don't show up as a negative.

See above.

> Thankfully transactions seemingly follow the unit x price in ZAR cents
> = ZAR value added/withdrawn from fund.

Of course.  And the opening balance transaction does too.

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
   Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
   Member, MIT Student Information Processing Board  (SIPB)
   URL: http://web.mit.edu/warlord/PP-ASEL-IA N1NWH
   warl...@mit.eduPGP key available
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Re: Unit Trusts assistance development

[John Ralls]

> On Sep 17, 2017, at 12:27 PM, Hylton Conacher (ZR1HPC) 
>  wrote:
> 
> HI David,
> 
> 
> 
> On 12/09/2017 20:08, D wrote:
>> Hylton,
> 
> 
>> I don't understand how this is different from a mutual fund or stock. Each 
>> has 'units' which have some currency value, e.g.,$5 a share.
>>> Each transaction is actually measured in currency as there is a
>> >price per unit which must be paid or received.
>> Again, I don't see the difference. In my example above, if I bought 10 
>> shares, I would have a transaction for $50, I would own 10 such shares, that 
>> wouldbe worth $50.
> 
> John, whilst I respect your contribution i.t.o. development of GnuCash, I 
> feel you certainly need to take a refresher course in customer service. For 
> your information, I am well versed in accounting having completed the subject 
> top of my class at high school and consequently also completed 1st yr 
> university accounting where I am fully aware that Assets-Liabilities=Owners 
> Equity yet Gnucash does not seem to follow GAAP(Generally Accepted Accounting 
> Practice) rules. Personal attack noted and put aside as it does nothing to 
> help the GnuCash product. Unfortunately we both made assumptions and all it 
> did was make an ASS of U + ME.
> 
> My issue is related to the fact that I cannot create the account opening 
> balances as at 31/08 from my paper statement which shows both the price, the 
> number of units held and the closing market ZAR value of the units held in 
> that particular unit trust asset.
> 
> Using either a Mutual fund or Stock, did not allow me to correctly show the 
> opening ZAR value of my unit trusts. When I open a new account as a mutual 
> fund, it mistakenly marks the ZAR value of this asset as negative. According 
> to John a course in basic accounting would fix this, however nowhere have I 
> ever seen an asset marked as a negative currency value.
> 
> Should I try and open a new account as a stock, the tab on the new account 
> windows indicating Opening Balance' is greyed out, just as it is on a Mutual 
> Fund?
> 
> I basically need to add a Current Asset called Unit Trusts which totals the 
> ZAR value of its sub accounts, of which there will be five named AG-Bal, 
> AG-E, AG-MM, AG-O, Cor-Balp each with an opening balance on the 31/08/2017 
> consisting of number of units to 4 decimal places, a unit price in cents to 2 
> decimal places/(ZAR to 4 decimal places) and a closing market value, in ZAR 
> to 2 decimal places, which depending on the fund may/may not be the product 
> of units x price i.e. the closing market value.
> 
> THIS IS THE CRUNCH:
> THE OPENING BALANCE ZAR VALUE OR THE CLOSING MARKET VALUE ON THE PREVIOUS DAY 
> MAY/MAY NOT BE THE PRODUCT OF UNITS OWNED X PRICE
> 
> A single account on my paper statement shows:
> 
> Units: 6659.22
> Unit Price(cents): 2245.70
> Closing Market Value: ZAR 149546.01
> 
> I am hopeful, once I can get the Opening Balances completed, that I will then 
> be able to figure out how transaction will be entered correctly so at least 
> my assets don't show up as a negative.
> 
> Thankfully transactions seemingly follow the unit x price in ZAR cents = ZAR 
> value added/withdrawn from fund.
> 
>> If there is anyone else
>> >who actually uses Gnucash for South African unit trusts, I would be most
>> >pleased to hear from you.
> 
>> I'd like to point out to you that John is one of the primary developers for 
>> Gnucash; his knowledge about how it works, and how it is intended to work, 
>> are pretty substantial. Thus far, you haven't shown that South Africa's unit 
>> trusts are in fact different from a mutual fund. Perhaps you could explain 
>> more clearly (with specific examples) how they are different, and we could 
>> proceed under more civil circumstances?
> 
> I have indicated to John that I am thankful for the work he has done, and 
> continues to offer, for the Gnucash project.  David, as per your request I 
> hope the example above helps illustrate how a unit trust opening value needs 
> to be entered so as to correctly indicate the ZAR value of the asset to the 
> account holder.
> 

Mr. Conacher,

Please stop copying your emails to the bug tracker. It is not the place for 
user support. I'd like you to re-close your bug. I'm not going to interact with 
it any further, so if you don't it will just stay open and ignored.

GnuCash's New Account dialog box doesn't allow opening balances on stock/fund 
accounts because it doesn't have the necessary fields, so you have to do it in 
the register after creating the account. If you've created currency accounts 
with opening balances then you've already got an account Equity:Opening 
Balances, but if you haven't, just create one by hand.

Let's take your amounts above as an example, supposing that you have 6659.22 
units of AG-E with a basis of 149546.01 Rand.
You'll create two accounts, one of any currency asset type you like in Rand 
with an opening balance of 149546.01 and the other of type MUTU

Re: Unit Trusts assistance development

[Dale Alspach]

See if this does what you want. I know nothing about unit trusts except
what you have written in your emails.

Create a top level account named Unit Trusts as an Asset in ZAR. Either by
using the Opening Balance tab or by creating an initial transaction, credit
Opening Balance (equity) and debit Unit Trusts using the total value of the
sub-accounts. Next create your 5 sub-accounts of Unit Trusts as mutual
funds. You will need to create securities for each. For each sub-account
create an initial transaction, e.g., Description: Opening Shares , Credit
(Transfer): Unit Trusts, Shares: 6659.22, Price: blank, Buy: 149546.01.
Gnucash will compute a price of 22.457 ZAR. After you have created the 5
initial transactions the balance in Unit Trusts will be zero. The aggregate
value of Unit Trusts will be the sum of the values of the sub-accounts
using the security unit price (usually from the Price Editor).

Dale

On Sun, Sep 17, 2017 at 2:27 PM, Hylton Conacher (ZR1HPC) <
hyl...@conacher.co.za> wrote:

> HI David,
>
>
>
> On 12/09/2017 20:08, D wrote:
>
>> Hylton,
>>
>> 
>
> I don't understand how this is different from a mutual fund or stock. Each
>> has 'units' which have some currency value, e.g.,$5 a share.
>>
>> Each transaction is actually measured in currency as there is a
>>>
>>  >price per unit which must be paid or received.
>>
>> Again, I don't see the difference. In my example above, if I bought 10
>> shares, I would have a transaction for $50, I would own 10 such shares,
>> that wouldbe worth $50.
>>
>
> John, whilst I respect your contribution i.t.o. development of GnuCash, I
> feel you certainly need to take a refresher course in customer service. For
> your information, I am well versed in accounting having completed the
> subject top of my class at high school and consequently also completed 1st
> yr university accounting where I am fully aware that
> Assets-Liabilities=Owners Equity yet Gnucash does not seem to follow
> GAAP(Generally Accepted Accounting Practice) rules. Personal attack noted
> and put aside as it does nothing to help the GnuCash product. Unfortunately
> we both made assumptions and all it did was make an ASS of U + ME.
>
> My issue is related to the fact that I cannot create the account opening
> balances as at 31/08 from my paper statement which shows both the price,
> the number of units held and the closing market ZAR value of the units held
> in that particular unit trust asset.
>
> Using either a Mutual fund or Stock, did not allow me to correctly show
> the opening ZAR value of my unit trusts. When I open a new account as a
> mutual fund, it mistakenly marks the ZAR value of this asset as negative.
> According to John a course in basic accounting would fix this, however
> nowhere have I ever seen an asset marked as a negative currency value.
>
> Should I try and open a new account as a stock, the tab on the new account
> windows indicating Opening Balance' is greyed out, just as it is on a
> Mutual Fund?
>
> I basically need to add a Current Asset called Unit Trusts which totals
> the ZAR value of its sub accounts, of which there will be five named
> AG-Bal, AG-E, AG-MM, AG-O, Cor-Balp each with an opening balance on the
> 31/08/2017 consisting of number of units to 4 decimal places, a unit price
> in cents to 2 decimal places/(ZAR to 4 decimal places) and a closing market
> value, in ZAR to 2 decimal places, which depending on the fund may/may not
> be the product of units x price i.e. the closing market value.
>
> THIS IS THE CRUNCH:
> THE OPENING BALANCE ZAR VALUE OR THE CLOSING MARKET VALUE ON THE PREVIOUS
> DAY MAY/MAY NOT BE THE PRODUCT OF UNITS OWNED X PRICE
>
> A single account on my paper statement shows:
>
> Units: 6659.22
> Unit Price(cents): 2245.70
> Closing Market Value: ZAR 149546.01
>
> I am hopeful, once I can get the Opening Balances completed, that I will
> then be able to figure out how transaction will be entered correctly so at
> least my assets don't show up as a negative.
>
> Thankfully transactions seemingly follow the unit x price in ZAR cents =
> ZAR value added/withdrawn from fund.
>
>  If there is anyone else
>>  >who actually uses Gnucash for South African unit trusts, I would be most
>>  >pleased to hear from you.
>>
>
> I'd like to point out to you that John is one of the primary developers
>> for Gnucash; his knowledge about how it works, and how it is intended to
>> work, are pretty substantial. Thus far, you haven't shown that South
>> Africa's unit trusts are in fact different from a mutual fund. Perhaps you
>> could explain more clearly (with specific examples) how they are different,
>> and we could proceed under more civil circumstances?
>>
>
> I have indicated to John that I am thankful for the work he has done, and
> continues to offer, for the Gnucash project.  David, as per your request I
> hope the example above helps illustrate how a unit trust opening value
> needs to be entered so as to correctly indicate the ZAR value of the a

Re: Unit Trusts assistance development

[Hylton Conacher (ZR1HPC)]

HI David,



On 12/09/2017 20:08, D wrote:

Hylton,




I don't understand how this is different from a mutual fund or stock. 
Each has 'units' which have some currency value, e.g.,$5 a share.



Each transaction is actually measured in currency as there is a

 >price per unit which must be paid or received.

Again, I don't see the difference. In my example above, if I bought 10 
shares, I would have a transaction for $50, I would own 10 such shares, 
that wouldbe worth $50.


John, whilst I respect your contribution i.t.o. development of GnuCash, 
I feel you certainly need to take a refresher course in customer 
service. For your information, I am well versed in accounting having 
completed the subject top of my class at high school and consequently 
also completed 1st yr university accounting where I am fully aware that 
Assets-Liabilities=Owners Equity yet Gnucash does not seem to follow 
GAAP(Generally Accepted Accounting Practice) rules. Personal attack 
noted and put aside as it does nothing to help the GnuCash product. 
Unfortunately we both made assumptions and all it did was make an ASS of 
U + ME.


My issue is related to the fact that I cannot create the account opening 
balances as at 31/08 from my paper statement which shows both the price, 
the number of units held and the closing market ZAR value of the units 
held in that particular unit trust asset.


Using either a Mutual fund or Stock, did not allow me to correctly show 
the opening ZAR value of my unit trusts. When I open a new account as a 
mutual fund, it mistakenly marks the ZAR value of this asset as 
negative. According to John a course in basic accounting would fix this, 
however nowhere have I ever seen an asset marked as a negative currency 
value.


Should I try and open a new account as a stock, the tab on the new 
account windows indicating Opening Balance' is greyed out, just as it is 
on a Mutual Fund?


I basically need to add a Current Asset called Unit Trusts which totals 
the ZAR value of its sub accounts, of which there will be five named 
AG-Bal, AG-E, AG-MM, AG-O, Cor-Balp each with an opening balance on the 
31/08/2017 consisting of number of units to 4 decimal places, a unit 
price in cents to 2 decimal places/(ZAR to 4 decimal places) and a 
closing market value, in ZAR to 2 decimal places, which depending on the 
fund may/may not be the product of units x price i.e. the closing market 
value.


THIS IS THE CRUNCH:
THE OPENING BALANCE ZAR VALUE OR THE CLOSING MARKET VALUE ON THE 
PREVIOUS DAY MAY/MAY NOT BE THE PRODUCT OF UNITS OWNED X PRICE


A single account on my paper statement shows:

Units: 6659.22
Unit Price(cents): 2245.70
Closing Market Value: ZAR 149546.01

I am hopeful, once I can get the Opening Balances completed, that I will 
then be able to figure out how transaction will be entered correctly so 
at least my assets don't show up as a negative.


Thankfully transactions seemingly follow the unit x price in ZAR cents = 
ZAR value added/withdrawn from fund.



 If there is anyone else
 >who actually uses Gnucash for South African unit trusts, I would be most
 >pleased to hear from you.


I'd like to point out to you that John is one of the primary developers 
for Gnucash; his knowledge about how it works, and how it is intended to 
work, are pretty substantial. Thus far, you haven't shown that South 
Africa's unit trusts are in fact different from a mutual fund. Perhaps 
you could explain more clearly (with specific examples) how they are 
different, and we could proceed under more civil circumstances?


I have indicated to John that I am thankful for the work he has done, 
and continues to offer, for the Gnucash project.  David, as per your 
request I hope the example above helps illustrate how a unit trust 
opening value needs to be entered so as to correctly indicate the ZAR 
value of the asset to the account holder.


Regards
Hylton
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Re: Unit Trusts assistance development

[D via gnucash-user]

Hylton,


On September 12, 2017, at 9:54 PM, "Hylton Conacher (ZR1HPC)" 
 wrote:

>Dear John,
>On 10/09/2017 16:10, John Ralls wrote:
>> 
>> 
>>> On Sep 10, 2017, at 1:26 AM, Hylton Conacher (ZR1HPC) 
>>>  wrote:
>>>
>>> Hi,
>
>>> I believe this unit trust account type needs further development work and 
>>> wonder if there is a work around?
>>>
>>> I have raised a feature request
>>> ;
>>> to request this further enhancements to Gnucash.
>> 
>> You believe wrong.
>> 
>> One accounts for units in a unit trust as units. Please STUDY the Tutorial 
>> and Concepts Guide, paying particular attention to the chapters on 
>> Investments and Capital Gains, where you’ll learn how to use GnuCash to 
>> account for non-currency assets.
>> 
>> Regards,
>> John Ralls
>You are incorrect.
>You account for your investment in units, expressed as having a currency 
>value. 

I don't understand how this is different from a mutual fund or stock. Each has 
'units' which have some currency value, e.g., $5 a share. 

>Each transaction is actually measured in currency as there is a 
>price per unit which must be paid or received. 

Again, I don't see the difference. In my example above, if I bought 10 shares, 
I would have a transaction for $50, I would own 10 such shares, that would be 
worth $50.I

>I tried to enter the 
>investment as a mutual fund but the price calculation would not allow me 
>to enter in values to 4 decimal places. 

Perhaps it would help to tell you that Gnucash stores the units and the amount, 
but calculates the price per unit? Enter the first two, and ignore the third, 
is what I do.

>After changing decimal places in 
>the settings, I saw no change. Despite your advice and your inability to 
>understand my mention that I had read and STUDIED the documentation and 
>tried Google searches, I tried many methods to get the unit trust 
>accounts to display properly, Gnucash is just not currently suitable for 
>unit trust accounts, in my opinion, even if the account is marked as a 
>Mutual fund or Stock, of which it is neither. If there is anyone else 
>who actually uses Gnucash for South African unit trusts, I would be most 
>pleased to hear from you.
>Again John, thank you for taking it upon yourself to close my bugzilla 
>post before doing any investigation into the matter or even waiting for 
>a reply from the original poster. So much for you using the community 
>user platform to improve the product.

I'd like to point out to you that John is one of the primary developers for 
Gnucash; his knowledge about how it works, and how it is intended to work, are 
pretty substantial. Thus far, you haven't shown that South Africa's unit trusts 
are in fact different from a mutual fund. Perhaps you could explain more 
clearly (with specific examples) how they are different, and we could proceed 
under more civil circumstances?

David

>I have reopened the request and will close it once I am able to 
>accomplish what I require, whether it be by step by step instructions or 
>further application development.
>Let's make Gnucash great again.
>Hylton
>> 
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Re: Unit Trusts assistance development

[Hylton Conacher (ZR1HPC)]

Dear John,

On 10/09/2017 16:10, John Ralls wrote:




On Sep 10, 2017, at 1:26 AM, Hylton Conacher (ZR1HPC)  
wrote:

Hi,

I am a new user of Gnucash 2.6.17 on a Mac and after many years using the 
earlier versions (95/98) of Quicken on Windows Have started a fresh set of 
accounts on Gnucash, for personal use, since the 1st Sept.

I have managed to operate my way through how different the app works, and am 
actually enjoying the learning experience.

In the years previous to this I have invested funds in several unit trusts, or 
what I believe some call, Mutual Funds.

I would like to add the current balances of the unit trusts as opening balances 
in Gnucash however despite reading the on-line manual and doing some Google 
searching as well as Bugzilla searching, have been unable to successfully 
create the following unit trust type of account hierarchy, as the account type 
is not specified.

Further delving into the app trying to use either 'Stock' or 'Mutual fund' did 
not assist as then I needed to select the 'Security/Currency'. When I clicked 
on Select it only showed non-currency related items, and none of them in south 
Africa. As my country currency is not listed, despite being listed if I choose 
to add an 'Asset' account.

The composition of the units purchased is decided by the parent company from 
which you are buying the unit trusts. The money given to the company for the 
purchase of your units is invested in a variety of assets that should provide a 
return i.e. gold bullion, stocks purchased in a particular range of companies, 
bonds etc.
As the value of those investments increases i.e. those companies invested in 
are now worth more, so the value of a unit trust unit increases.
The parent company has absolute discretion on where and when it wants to invest 
your money and so manages the risk and ensures a positive return on investment, 
allowing them to take a fee of the profit earned.

A unit trust will normally be traded in the home country currency but may be 
traded in a completely different currency i.e. whilst the home currency is ZAR, 
I may have a unit trust that is traded in GBP. A unit trust consists of units 
purchased, usually to 2 or 3 decimal points i.e. 0.01 or 0.001 but some might 
be more, a price per full unit and then the currency value of the total units 
held in that particular named unit trust.

I believe this unit trust account type needs further development work and 
wonder if there is a work around?

I have raised a feature request

to request this further enhancements to Gnucash.


You believe wrong.

One accounts for units in a unit trust as units. Please STUDY the Tutorial and 
Concepts Guide, paying particular attention to the chapters on Investments and 
Capital Gains, where you’ll learn how to use GnuCash to account for 
non-currency assets.

Regards,
John Ralls


You are incorrect.
You account for your investment in units, expressed as having a currency 
value. Each transaction is actually measured in currency as there is a 
price per unit which must be paid or received. I tried to enter the 
investment as a mutual fund but the price calculation would not allow me 
to enter in values to 4 decimal places. After changing decimal places in 
the settings, I saw no change. Despite your advice and your inability to 
understand my mention that I had read and STUDIED the documentation and 
tried Google searches, I tried many methods to get the unit trust 
accounts to display properly, Gnucash is just not currently suitable for 
unit trust accounts, in my opinion, even if the account is marked as a 
Mutual fund or Stock, of which it is neither. If there is anyone else 
who actually uses Gnucash for South African unit trusts, I would be most 
pleased to hear from you.


Again John, thank you for taking it upon yourself to close my bugzilla 
post before doing any investigation into the matter or even waiting for 
a reply from the original poster. So much for you using the community 
user platform to improve the product.


I have reopened the request and will close it once I am able to 
accomplish what I require, whether it be by step by step instructions or 
further application development.


Let's make Gnucash great again.

Hylton




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Re: Unit Trusts assistance development

[John Ralls]

> On Sep 10, 2017, at 1:26 AM, Hylton Conacher (ZR1HPC)  
> wrote:
> 
> Hi,
> 
> I am a new user of Gnucash 2.6.17 on a Mac and after many years using the 
> earlier versions (95/98) of Quicken on Windows Have started a fresh set of 
> accounts on Gnucash, for personal use, since the 1st Sept.
> 
> I have managed to operate my way through how different the app works, and am 
> actually enjoying the learning experience.
> 
> In the years previous to this I have invested funds in several unit trusts, 
> or what I believe some call, Mutual Funds.
> 
> I would like to add the current balances of the unit trusts as opening 
> balances in Gnucash however despite reading the on-line manual and doing some 
> Google searching as well as Bugzilla searching, have been unable to 
> successfully create the following unit trust type of account hierarchy, as 
> the account type is not specified.
> 
> Further delving into the app trying to use either 'Stock' or 'Mutual fund' 
> did not assist as then I needed to select the 'Security/Currency'. When I 
> clicked on Select it only showed non-currency related items, and none of them 
> in south Africa. As my country currency is not listed, despite being listed 
> if I choose to add an 'Asset' account.
> 
> The composition of the units purchased is decided by the parent company from 
> which you are buying the unit trusts. The money given to the company for the 
> purchase of your units is invested in a variety of assets that should provide 
> a return i.e. gold bullion, stocks purchased in a particular range of 
> companies, bonds etc.
> As the value of those investments increases i.e. those companies invested in 
> are now worth more, so the value of a unit trust unit increases.
> The parent company has absolute discretion on where and when it wants to 
> invest your money and so manages the risk and ensures a positive return on 
> investment, allowing them to take a fee of the profit earned.
> 
> A unit trust will normally be traded in the home country currency but may be 
> traded in a completely different currency i.e. whilst the home currency is 
> ZAR, I may have a unit trust that is traded in GBP. A unit trust consists of 
> units purchased, usually to 2 or 3 decimal points i.e. 0.01 or 0.001 but some 
> might be more, a price per full unit and then the currency value of the total 
> units held in that particular named unit trust.
> 
> I believe this unit trust account type needs further development work and 
> wonder if there is a work around?
> 
> I have raised a feature request
> 
> to request this further enhancements to Gnucash.

You believe wrong.

One accounts for units in a unit trust as units. Please STUDY the Tutorial and 
Concepts Guide, paying particular attention to the chapters on Investments and 
Capital Gains, where you’ll learn how to use GnuCash to account for 
non-currency assets.

Regards,
John Ralls

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