Yes - On an income/expense statement Expenses and Income prior to the 
period you are examining will show up under Equity.
This is expected as you have asked fava to report activity for a specific 
period of time. Transactions outside that time are accounted for in the 
Equity section.

You can read more 
here: 
https://beancount.github.io/docs/the_double_entry_counting_method.html#equity

Hope that helps,
A

On Saturday, July 10, 2021 at 2:05:36 AM UTC+1 Oon-Ee Ng wrote:

> Wait things differ based on whether they're current or previous year? Yes 
> this is with fava.
>
> On Wed, Jul 7, 2021 at 6:28 PM Alan H <[email protected]> wrote:
>
>> I suspect that the crossing of the calendar year may be what is causing 
>> these to 'appear' in unusual places in (presumably) fava.
>>
>>
>> On Wednesday, July 7, 2021 at 2:49:15 AM UTC+1 [email protected] wrote:
>>
>>> @@ vs @ doesn't change anything but the multiplier. @@ will 
>>> automatically calculate the rate based on the total amount, it doesn't 
>>> change the opening balances or conversions.
>>>
>>>
>>> On Mon, Jul 5, 2021 at 10:41 PM Oon-Ee Ng <[email protected]> wrote:
>>>
>>>> I have a few transactions (listed below) converting from SGD to USD:-
>>>>
>>>> 2020-11-15 * "Purchase USD with SGD"
>>>>   Assets:Equities:IBKR:USD                                             
>>>>                7848.00 USD @@ 10577.93 SGD
>>>>   Expenses:Bills:BankCharges                                           
>>>>                   2.00 USD
>>>>   Assets:Equities:IBKR:USD                                             
>>>>                  -2.00 USD
>>>>   Assets:Equities:IBKR:SGD                                             
>>>>              -10577.93 SGD
>>>>
>>>> 2020-11-17 * "Purchase USD with SGD"
>>>>   Assets:Equities:IBKR:USD                                             
>>>>                   1.67 USD @@ 2.24 SGD
>>>>   Assets:Equities:IBKR:SGD                                             
>>>>                  -2.24 SGD
>>>>
>>>> 2021-03-31 * "Purchase USD with SGD"
>>>>   Assets:Equities:IBKR:USD                                             
>>>>                5524.00 USD @ 1.34495 SGD
>>>>   Expenses:Bills:BankCharges                                           
>>>>                   4.00 USD
>>>>   Assets:Equities:IBKR:USD                                             
>>>>                  -4.00 USD
>>>>   Assets:Equities:IBKR:SGD                                             
>>>>               -7429.50 SGD
>>>>
>>>> 2021-04-05 * "Sweep remaining SGD to USD"
>>>>   Assets:Equities:IBKR:SGD                                             
>>>>                  -0.22 SGD
>>>>   Assets:Equities:IBKR:USD                                             
>>>>                 0.1611 USD @ 1.34175 SGD
>>>>
>>>> The 2020 transactions get "added" (debited, I think, not sure whether 
>>>> its a credit or debit) to Equity:Opening-Balances while the 2021 
>>>> transactions get "added' to Equity:Conversions. I've read the 'Costs and 
>>>> Prices' section of the documentation, but it just says you can either use 
>>>> the price (@) or the total cost (@@), without really explaining what the 
>>>> difference is.
>>>>
>>>> Could someone please help me understand why these go to different 
>>>> accounts, and what that 'means' in a financial sense?
>>>>
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>>>>
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