On Fri, Apr 19, 2019 at 5:15 PM Alen Šiljak <[email protected]> wrote: > > There's not much difference between exchanging currencies for other > currencies or for any other type of commodity. At least in terms of > accounting. > While I'm not saying there is anything wrong with this type of recording > expenses, I would point out this page: > > https://github.com/ledger/ledger/wiki/Currency-trading-accounts > > which explains how to track currency exchange transactions using "trading > accounts" (at least that's what they call them in GnuCash). I liked that idea > as it offers an opportunity to see how much you actually gained/lost in > currency exchange over the years. > As I've lived in different countries, I had to move cash back and forth not > paying much attention to the exchange rates. Now at least I'm more aware of > it.
OK - - - so you're now aware of the exchange rates. Now - - - add cost of exchange (varies depending upon institution). One thing to watch for is that buying and selling currencies incur different rates. Your cost of exchange will also vary depending upon amount and form of currency. So gnu-cash starts you in the direction but there are a lot of fees which add up over time. It would be fascinating to discuss the best and worst case scenarios for this whole 'mud pit' of an area. 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]. For more options, visit https://groups.google.com/d/optout.
