Servus Norbert, welcome to GnuCash:
On 2022-07-16 22:14, Norbert Klein wrote:
I am a new gnucash user, living in Cambodia (since 32 years).
I downloaded (in Windows 10), installed and tried to set up gnucash
with
the US$ as the basic currency (which was already set-up as a
default). I
have not yet set up the accounts.
Then I tried to find out how to make it possible to use, in addition,
also the Cambodian currency - the Riel - which is used here,
alternatively to the US$, every day. The Riel is available as one of
the
currencies that can be used in gnucash.
I spent quite some time reading gnucash documents, but so far without
success. I would be most grateful if somebody could help me.
I have used GnuCash for many years with a book that included
transactions in Canadian Dollars, US Dollars, Euros, Japanese Yen,
and more. It all works quite well. I can encourage you that what you
seek is definitely possible.
My advice to you:
1. Do read the GnuCash concepts and tutorial guide, especially Chapter
12 /Multiple Currencies/
<https://www.gnucash.org/docs/v4/C/gnucash-guide/chapter_currency.html>.
2. Do enable Trading Accounts, as described in 12. /Automatically
Recording Currency Transactions using Trading Accounts/
<https://www.gnucash.org/docs/v4/C/gnucash-guide/currency_trading_accts.html>.
I have always used them. (In fact, I cannot tell you what happens if
you do not use them, because I have not tried.
3. I second Paul Kroitor's excellent advice that you make a "test
book" for practice and experiments. Accept a default chart of
accounts. Make a few accounts in KHR currency. Enter a few test
transactions. See how things work. Then set up your real book.
4. I use the one currency structure for my asset accounts, and a
different currency structure for my expense accounts. See if either of
these makes sense for you.
a. Who / Currency / Category / Detail structure, which I use in my
Asset accounts.
Level 1: Who, i.e. Personal assets vs My Business assets.
Level 2: Currency, e.g. CAD Personal assets vs USD Personal assets.
Level 3: Category, adopted from GnuCash suggested chart of accounts,
i.e. Current Assets, Investments, Accounts Receivable
Level 4: Detail, adopted from specific bank accounts and investment
accounts, e.g. Credit Union Chequing, Cash, Brokerage Account Cash
Balance.
e.g. Assets:Personal Assets:CAD Personal Assets:Current Assets:Credit
Union Chequing
Assets:Personal Assets:CAD Personal Assets:Current Assets:Cash CAD in
pocket
Assets:Personal Assets:USD Personal Assets:Investments:Brokerage
account:USD Cash Balance
Assets:Business Assets:USD Personal Assets:Current Assets:Paypal acct
USD
b. Who / Detail / Currency structure, which I use in my Expense
accounts.
Level 1: Who, i.e. Personal expenses vs My Business expenses.
Level 2: Detail, adopted from GnuCash suggested chart of accounts,
modified by my own needs, i.e. Rent, Groceries, Dining
Level 3: Currency, e.g. CAD Groceries vs USD Groceries.
e.g. Expenses:Personal Expenses:Groceries:CAD Groceries
Expenses:Personal Expenses:Groceries:USD Groceries
Expenses:Personal Expenses:Groceries:CAD Rent
Expenses:Business Expenses:Computer Accessories:CAD Computer Accessories
Expenses:Business Expenses:Computer Accessories:USD Computer Accessories
I enter way more Expense account paths than Asset account paths. This
currency-last structure makes it easier for GnuCash to complete each
segment of the path when I type just the first few characters. If I
type "Ex:P:Gro:C" then GnuCash expands those initial characters to
"Expenses:Personal Expenses:Groceries:CAD Groceries".
5. Don't feel like you have to get the account tree right the first
time. You can change the structure and the account names later, and
the transactions will move with the changes.
Or more accurately: when you create an Account, GnuCash gives it a
unique identifier behind the scenes. The transactions are linked to
these unique identifiers, not to the Account's name or parent
accounts. When you change the Account's name, or move it to a
different parent Account, the identifier remains unchanged. Thus the
transactions are still attached to the account, despite its new name
and parent.
I hope this is helpful. Have fun with the experiments!
Best regards,
—Jim DeLaHunt, Vancouver, Canada
Norbert (Klein) - a German
_______________________________________________
gnucash-user mailing list
[email protected]
To update your subscription preferences or to unsubscribe:
https://lists.gnucash.org/mailman/listinfo/gnucash-user
If you are using Nabble or Gmane, please see
https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.
_______________________________________________
gnucash-user mailing list
[email protected]
To update your subscription preferences or to unsubscribe:
https://lists.gnucash.org/mailman/listinfo/gnucash-user
If you are using Nabble or Gmane, please see
https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.
