On 04/07/2018 01:12, Alex Aycinena wrote:
Today, in file->properties->Accounts tab, you can turn "trading accounts"
on or off.
Not really, you either use them or you don't.
I propose to change this to a selection of three alternatives:
use trading accounts, specify a 'book currency', or neither trading
accounts nor book currency. If trading accounts is selected, it would work
as implemented by Mike. If neither is selected, it would work as gnucash
does now without trading accounts selected. So no one would be forced to
use the new feature.
Yikes, the extra option is scary.
If 'book currency' is selected, it would require the specification of the
book currency in file->properties.
That is a substantial change.
Transaction entry would be modified to
ensure every split that was not in the book currency had a 'price' or
'exchange rate' associated with it (to the book currency).
I am in opposition to this until it is explained well.
In addition, the
existing lot tracking capabilities would be used to track the 'cost' (in
book currency) of all accounts not denominated in the book currency (lots
would automatically be created rather than having the user go through the
Actions->View Lots process).
I object strongly as there is an extant means of balancing these tx.
In entering any transaction that disposes of
non-book-currency amounts, the user would be provided with assistance to
calculate and book any gain or loss associated with the transaction based
on these tracked costs.
I object, this is leaning towards one jurisdiction.
The idea is that several policies would be used for
this purpose (probably implemented in phases): LIFO, FIFO, average cost
(perhaps), manual specification. Much of this lot tracking has already been
implemented but I don't believe it has been fully tested.
I am supportive of this but don't think it has been thought through.
A 'Cost and Unrealized Gains/Loss' report would be added to the menu if
this feature is selected. It would show, for all non-book-currency accounts,
as of a user-selected date: name, currency/commodity, cost, quantity, rate,
value, unrealized gain/loss. Optionally, for each account, lot detail would
be shown and, for each lot transaction detail would be shown.
I think that is largely redundant.
The US Income Tax Report would be enhanced to use the booked gains/losses
(bug 554397).
Or dropped entirely as being too country specific.
Among the changes I foresee are:
- File->Properties: specify and select 'book currency', if selected,
default gain/loss account and default lot tracking policy.
Doesn't the lot tracking happen regardless?
- Account Edit: for 'non-book-currency' accounts, specify gain/loss
account, lot tracking policy, short-sales allowed, currency account is
priced in, skip lot-tracking flag.
That is going to involve a lot of work. I'm think 2 or 3 years at least.
- Register Transaction Entry: transaction currency will be 'Book Currency'
rather than currency of register transaction is entered from, raise 'Edit
Exchange Rates' dialog if split not in book currency, create/update lots
for non-book-currency splits, if a sale (subject to 'short sales' rule),
uses Lot Tracking Policy to calculate cost amount and tentative gain/loss
That's realisable
- Stock Split: make compliant
- Lot Viewer: Modify existing capability so that integrity can't be messed
up. Also, it should not be available in menu for book-currency accounts. It
currently has a problem where it seems to generate multiple Realized
Gain/Loss entries under some conditions I haven't figured out yet.
It will probably take me several months to get this done. As I said above,
I welcome feedback/comments.
I think some agreement about what is wrong makes more sense.
--
Wm
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