On Sat, Oct 31, 2015 at 4:39 PM, Lifepillar <[email protected]> wrote:
> 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. >> > > Although Ledger has several features to deal with multiple currencies, > I find the currency trading account method extremely appealing and clean, > because it does not require any special syntax (search the web for the > tutorial on multiple currency accounting by Peter Selinger - which has been > discussed in this list a few times in the past). It may or may not work for > you, depending on your requirements. > > John's example would be rewritten as follows: > > 2009/06/03 Exchange cash > Assets:Cash £41.71 > Assets:Cash $-75.00 > Income:Currency > > 2009/06/03 Exchange cash > Assets:Cash £564.91 > Assets:Cash XCD -2,730.00 > Income:Currency > Note that the usage of an auto-posting in this way effectively nuls and voids the verification the double-entry system provides you with. You can put any garbage numbers in there and it will still work (just to be clear: that's _not_ what we want). A better approach would be to post-process the transactions to convert what John suggested previously into equivalent transactions for currency accounts, without bypassing the balance check. In Beancount, you can implement that with a plugin, one that allows you to automatically using Peter's currency trading method, without having to insert a special account (the plugin would automatically insert transactions whenever groups of postings with the different currencies don't balance perfectly). Then, `ledger bal assets` and `ledger reg cash` would produce equivalent > reports for both examples. One advantage (IMHO) of this method is that > reports balance to zero more often (try `ledger reg`, for example). > > Note that you only need one trading account (Income:Currency) for all your > currency exchanges, although you are free to use more if you want. > > Enjoy, > Life > > > > -- > > --- You received this message because you are subscribed to the Google > Groups "Ledger" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. > -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
