On 16/02/2018 08:20, Adrien Monteleone wrote:
At least on my version of the Trial Balance report, there is no ‘Imbalance 
entry’ specifically.

There is at the bottom, the Imbalance-XXX and Orphan-XXX accounts listed along 
with the others.

There is also a line for ‘Unrealized Gains’ or ‘Unrealized Losses’ (I have the 
latter, even though the report duration was a single day with no price changes, 
I gave up trying to figure that one out)

The ‘imbalance’ I’m speaking of trying to resolve, or at least finally attributed 
to a rounding error with the XAG account, was simply the difference between what 
the report shows as Total Debits & Total Credits. (note, these aren’t labeled 
as such on the report - but they appear at the bottom, and that’s clearly what they 
are) There is no figure on the report that shows this difference. I had to 
calculate it manually. When I decided to audit the report for each account is when 
I found the foreign currency account out of whack. The remaining difference was 
attributable entirely to the ‘unrealized losses’ line.

So, the full difference between debits and credits is the SUM of the 
‘Unrealized Gains/Losses’ line and the discrepancy due to rounding.

At least in my case.

I'm liking your approach to things, AdrienM.  So try this:

Make a copy of your book for safe keeping.

Go to File / Properties and if it is ticked (checked in american) untick it, my guess is it will be unticked (unchecked) so you will be about to enter the world of trading accounts.

I love them for what they do and since there is a discussion in another thread about naming things like the General Ledger or Journal, think "Trading accounts" is a bad name. Who cares about a word? Welcome to some marvellous accounting :)


Close your book and open it again

Actions / Check & repair. [1]

[1] if you are using business accounts you might need to run Check & repair on individual accounts as there was a problem there and I can't recall exactly if it has been fixed or not, but no harm done in double checking. You only need to do this extra step for accounts that have a type of A/Receivable or A/Payable, my understanding is all other accounts are covered by the general check.

You should now have an extra top level account called Trading [2]

[2] it is badly named (but I think people that use it are used to the name now) and arguably badly positioned in the account tree as it belongs in Equity in accounting terms so keep that in mind.

Open the Trading account and explore a bit. All the differences you were wondering about should be there and you should be able to delete the Imbalance, Orphan, et al accounts as they should be empty unless you really have entered an imbalanced tx <-- everyone makes a mistake sometimes.

So there are two problems with the report:

1) There should be no losses or gains if there were no trading transactions. 
Certainly, this is impossible if there is only one day on the range of the 
report and the price is the same. If all you have are opening entries and you 
attempt to run a trial balance for that same day, you can’t have either a gain 
or a loss, unrealized or not.

Watch out for the use of the word "trading" it is idiosyncratic in gnc.

2) Because the Equity:Opening Balances account is the result of rounded figures 
for each entry in a foreign currency, the report’s method of taking the foreign 
currency ending balance as of a date and doing the exchange rate calculation at 
the end, will always produce a discrepancy. The report would have to sum the 
book-default currency amounts individually or somehow a book-default currency 
balance would have to be maintained and that used instead. Alternatively, a 
foreign currency account could use the same precision as the foreign currency 
itself, thus removing the potential for rounding errors if not eliminating them.

I think I have already answered this [3] but live multi-commodity TB work is not for the faint hearted and generally isn't necessary unless someone has taken a position on the movement of currencies or commodities against each other and is making it their business.

[3] it may have been modded, I don't double check unless it is obvious something hasn't got through.

Possibly, increasing the decimal places and re-entering the transactions for 
the XAG account might resolve the rounding issue. (only because now the USD 
amounts sum correctly to match since they don’t round enough) But then ALL USD 
accounts would have this extra precision which is not desirable generally.

Try Trading accounts before that weirdness.

The alternative would be to reduce the precision of the XAG account, but again, 
that is undesirable for accurate tracking of ownership quantities of the actual 
metal. (or currency if that’s the case)

As above, this is what Trading accounts are for.

The per-account precision setting seems to only affect the default currency for 
that account, in this case, XAG, not USD, which seems only to be controlled by 
the book setting.

The whole point of Trading accounts is that the units, decimals, etc can be arbitrary.

It is a way of recording differences.

Try it, you might like it :)

A: If you don't like it let us know anyway as I think we know it isn't presented well. I'm thinking you are one of the people that might understand them whereas many single commodity people (aka dumb americans) don't.


Never vote for a man that wants to be your leader until he dies. Particularly if his wife thinks it is a bad idea. And his son-in-law has had his security clearance down graded.

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