It does make sense when you put it this way. The things is I’m new to PTA so I’m somewhat afraid to commit to a particular CoA, so I’m trying to come with the best setup right ahead. But I guess I just need to start and see how it goes throughout at least one/two tax seasons.
On Mon, Aug 26, 2024 at 05:57 Justus Pendleton <[email protected]> wrote: > FWIW, I have income and expenses in three countries (and three currencies) > and have to file taxes in all three and I've never seen a point in having > subcategories per-country for either expenses or income. > > The hard part with any kind of accounting is that your account structure > needs to reflect what you're actually going to do with the information. > What are you going to do with knowing that some of your grocery expenses > were in Country A and some in Country B? Does it affect tax reporting or > your spending behaviour or...something? That's what needs to drive your > account structure. > > So, for instances, I pay taxes on global income. There's no point in > pretending that income from Country A is somehow different from income from > Country B. The distinction has never once come up -- for me! -- in almost a > decade of using beancount across multiple countries. > > And the great thing about plaintext accounting is that if I ever decide > I'm wrong, it is pretty easy to edit all the files and change things around > in the future. > > > On Monday, August 26, 2024 at 1:12:27 AM UTC+7 [email protected] wrote: > >> Thanks. I slept on it and I think it makes sense to create a subcategory >> for expenses in each country, the same way as "Income:US:Salary" and >> "Income:UK:Salary" is shown as an example in the documentation. This allows >> to have proper separation between the two countries. On the other hand, on >> expenses such as travel, I think it makes sense to have on category, such >> as "Expenses:Travel:Flights", that can hold transactions in multiple >> currencies. >> >> On Sunday, August 25, 2024 at 9:39:54 AM UTC+2 [email protected] wrote: >> >>> In my ledger i've let these accounts have multiple currencies and do a >>> conversion in one or the other when reporting / computing balances. >>> >>> On Sat, Aug 24, 2024, 23:41 Dmitry Kudryavtsev <[email protected]> >>> wrote: >>> >>>> Recently I made a relocation. This means I now live with two main >>>> currencies. >>>> >>>> Before relocating, I used currency as a name for the leaf account. So >>>> if I had a bank account BankA that held both EUR and USD, I’d have two >>>> account BankA:EUR and BankA:USD. >>>> >>>> However, since most of my expenses were made from my main currency, I >>>> usually recorded that in that currency, even when traveling, since the bank >>>> usually did the conversion of which I didn’t care. So my income/expense had >>>> one level, let’s say Expenses:Groceries. >>>> >>>> Now I have more than 10 years worth of financial data in my main >>>> currency and I’m wondering how to move forward. I could let Groceries have >>>> expenses in two currencies, but in GnuCash I adopted the currency name as a >>>> leaf for most income/expenses as well, so I’d have Groceries:USD and >>>> Groceries:EUR. >>>> >>>> Is this a good model for starting with beancount, or I should just let >>>> income/expenses contain multiple currencies? >>>> >>>> Thanks! >>>> >>> -- >>>> 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/CAEzdkV9ZWWVET9FgUQuHBX-%3DnoriruTi6Tu%3DKeTy_O0P1VDhYA%40mail.gmail.com >>>> <https://groups.google.com/d/msgid/beancount/CAEzdkV9ZWWVET9FgUQuHBX-%3DnoriruTi6Tu%3DKeTy_O0P1VDhYA%40mail.gmail.com?utm_medium=email&utm_source=footer> >>>> . >>>> >>> -- > You received this message because you are subscribed to a topic in the > Google Groups "Beancount" group. > To unsubscribe from this topic, visit > https://groups.google.com/d/topic/beancount/gpc1G1ho63E/unsubscribe. > To unsubscribe from this group and all its topics, send an email to > [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/beancount/4d9cd994-928b-4007-a275-4b1d12dbc281n%40googlegroups.com > <https://groups.google.com/d/msgid/beancount/4d9cd994-928b-4007-a275-4b1d12dbc281n%40googlegroups.com?utm_medium=email&utm_source=footer> > . > -- 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/CAEzdkV8V%3DEkiy%2BUhqfbUXKZZm8cJ24vw9oGQG5YqFfzz2XzXsg%40mail.gmail.com.
