Hi all. I'm starting to set up my accounts on GnuCash and I'm actually stuck understanding how (or even if) I should add the following. I do own a music studio with a collection of vintage instruments. As the whole gear is worth quite some k, I thought I'd add it as an asset. So first questions here: is it correct? Does it make sense? Let's assume I will add it as an asset, the next question is around the corner. I buy my gear in two different currencies, thus I would've thought to set up two different asset accounts: one in currency A and one in currency B. So far so good. Now the (for me) difficult part comes: I also sell items of my collection sometimes and when I do, the transaction can be in either one of the two currencies I bought them. Assuming I bought an item in USD and I sell it in CAD, how would I have to enter this transaction in GnuCash?
As an additional info (maybe irrelevant, but anyways): as of today I maintain a spreadsheet with the price I paid for a specific piece of gear, including the currency I used. At the same time, I do a currency conversion and fill the adjacent column with the converted value (e.g. bought for 1200 USD I put the equivalent 1630 CAD in the other column). Thanks for any help! F. https://www.instagram.com/boniforti_music https://soundcloud.com/boniforti_music https://bonny-j.bandcamp.com _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
