>>>>> Ramakrishnan Muthukrishnan <[email protected]> writes:
> The problem is this: My accounts (expenses etc) are mostly in Indian Rupees.
> I invoice the client in GBP. The money comes into the bank in India and get
> converted to the Indian Rupee at a conversion rate of the day it arrives in.
> How do I account for this in the journal? I would appreciate a short example
> transaction.
Here's an example from my accounts where I exchange some cash:
2009/06/03 Exchange cash
Assets:Cash £41.71
Assets:Cash $-75.00 @ £0.55613333
Assets:Cash £564.91
Assets:Cash XCD -2,730.00 @ £0.20692674
I turned US dollars and Eastern Carribean Dollars into British Pounds.
John
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