Hi all, I've got more than a decade of records in a single currency. I've just started a bank account in a foreign country (with a different currency) for investment purposes, so now I suddenly have to look at using more than one commodity in a way I haven't before.
First, let me summarise what I already know to save time:- 1. Using @ (exchange rate) or @@ (exchange value) in my multi-currency transaction 2. Opening accounts with the 'right' currency is helpful but not required 3. operating_currency should be used for your 'main' currencies, but can be just kept to one currency if you prefer. Mostly for display (used by fava) My questions:- 1. Do I need to change account structure? Currently I have stuff like:- Assets:Cash:MyName Assets:Banking:BankName:AccountName Income:InterestIncome Income:Salary Is it better long term to have different account names for my other currencies? So for example:- Assets:Banking:CUR1:BankName:AccountName Assets:Banking:CUR2:BankName:AccountName Income:CUR1:InterestIncome Or is it better (especially for income/expenses accounts) to just declare them as multi-currency:- 2020-10-02 open Income:InterestIncome CUR1,CUR2 What's the pros/cons of the above? 2. How do I (or should I even) keep track of flunctuating exchange rates? My secondary (and tertiary, as my final aim is USD investments but I need an intermediary currency due to how my local currency works) currency is primarily for investment. My income for now is all in my primary currency, but eventually there'll be dividend/capital gain (or loss, I'm not naive) to be booked in the secondary and tertiary currencies. Is it easy to keep track of nominal exchange rates in a way which makes sense for reporting purposes, or is it better practice to only report an investment in the currency it is denominated in? 3. Does fava support hiding/displaying currencies at will? My wife also uses our fava install and for day-to-day use the additional currency columns would just be a bother especially on smaller smartphone screens. Thanks all! -- You received this message because you are subscribed to the Google Groups "Beancount" 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/beancount/CAGQ70etfnEo402epFYKUfM%3D8Y8_hjy0PDz_SLxdZfuQHQ_BQgA%40mail.gmail.com.
