Thanks Martin! On Sat, Oct 3, 2020 at 11:17 AM Martin Blais <[email protected]> wrote:
> > On Thu, Oct 1, 2020 at 10:49 PM Oon-Ee Ng <[email protected]> wrote: > > > Or is it better (especially for income/expenses accounts) to just declare >> them as multi-currency:- >> 2020-10-02 open Income:InterestIncome CUR1,CUR2 >> > > Up to you. I use a country code in my Income accounts (so the source > country is clear when it's time to do taxes) but not for my expenses > accounts. > > So to be clear, everything under income and expenses you don't use a country code (and you use multi-currency)? I guess it does make sense that I don't really care about which currency it is in, just total numbers, for income/expense. Just organization niceness. > > > >> 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? >> > > It depends where and how you'll be paying taxes. Figure out how the taxes > you'll have to file and to which countries, go through the calculation, > that should tell you what rates you need to keep. I don't think there's a > rule. > > My country doesn't tax capital gains or dividends from overseas investments, and I believe the US already applies a withholding tax on dividends anyway. But yes that's something I do need to look into. -- 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/CAGQ70ev%2BOy2pfBa4mfXg%3D6mJePKV1rNEf0wQ49NVsycy%3DKQ12w%40mail.gmail.com.
