No, P&Ls are not a re-evaluation at a specific date. That describes a
Balance Sheet.
P&L is a reporting of the results of transactions to expense and revenue
accounts over a date range. (otherwise known as an Income Statement -
there are entries for both in the GnuCash Reports menu. They are the
same report) This is not a 'what if' report. Nothing unrealized belongs
on it.
Regards,
Adrien
On 6/30/24 6:25 AM, Fred Bone wrote:
Why? Because the P&L is a (re-)valuation at a specific date (e.g.
"today") and there's been an unrealised loss on your asset - the €150 is
now worth only £128+ whereas you paid £132.27 for it, and you haven't
accounted for this. (Of course, if the Euro subsequently rises enough
against sterling this might even be reversed and become a gain.)
Consider what happens if what you bought was actual euros (such as in
preparation for a trip to France). They cost you £132+. If you bought
them today instead, they'd cost you £128+. You made a £4(+-) loss by
buying too soon. That's what the P&L is telling you.
The figures ARE correct, at least insofar as you have informed Gnucash.
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