On Thu, Jul 9, 2020 at 12:13 AM o1bigtenor <[email protected]> wrote:
> > > On Wed, Jul 8, 2020 at 9:45 AM Randy Josleyn <[email protected]> > wrote: > >> Hi list, >> >> I’ve rolled my own version of the full-fledged hledger noted in the >> hledger docs, where I’m mainly just using hledger to process the CSVs and >> ledger for the rest. >> >> I live in China, but I’m American. I’m at the point where I’ve started >> adding my American accounts and that’s all fine and dandy. However, as my >> current tree of accounts gets more and more accounts with USD in them, it >> gets hard to read. Does anyone have any suggestions for how to manage this >> issue? >> >> I was considering splitting assets and expenses by currency like below, >> but that could also make things a bit harder to read. >> >> assets >> cash (usd/cny) >> CNY >> alipay >> icbc >> USD >> wells fargo... >> expenses >> CNY >> entertainment >> food >> ... >> USD >> entertainment >> food >> ... >> >> Does anyone have any experience with tracking multiple currencies? >> Perhaps there’s a simple query I could do that would limit transactions to >> only ones with a particular currency/commodity? >> >> Thanks for your help! >> > Dealing with multiple currencies is a challenge (period full stop!!). > > The official line is this (AIUI). > Your ledger is in the denomination of the country you pay taxes in. > (If you pay personal taxes in multiple jurisdictions - - - will that's > massively beyond my pay grade or experience!!!.) > Practically that means that if you reside in the USA your recordkeeping > files should be in USD. Transactions in any other currency are converted > into USD. > > I haven't even gotten to thinking about taxes, because taxes in China are pretty much non-interactive (no tax return or the like). I'm getting ready to move back to the US, though, and I want to be prepared with good bookkeeping habits by the time that actually happens. It's definitely also well beyond my own experience, as well! Multi-national companies somehow do things a little different > than that - - - - but in a different country - - - - they pay taxes there > - - - - > the books for that division are in 'that' currency (whatever that is). > How that > exactly gets rolled into the 'parent' company's book - - - - dunno. > That level of taxation I don't know and don't really want to know about. > AIUI it would mean complying with every country's taxation codes for that > division's ledgers (and taxation) and my guess would be that the parent > company uses sub-journals but please note - - - - - that is a GUESS! > (Just want to keep that clear!!). > > Re-reading your message - - - - you are an American living and working > abroad. > This, IMO, is a somewhat special case. > I would suggest you contact the IRS for guidance because they are going to > have a mountain of demands for you and either you're going to get ahead of > that falling mountain or it will crush you when it gets to you! > Right now I've got my fingers crossed that repatriating myself and my assets will be relatively straightforward. (I'm pretty sure it won't work out so well, though.) Having good records will definitely help in that regard, though. Thanks for your suggestions. > > Regards > > HTH > > -- > > --- > 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]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/ledger-cli/CAPpdf58jqJqa5-4OLnrj4ecVnsufDcD0Di03K1VMA7d14e5Dyw%40mail.gmail.com > <https://groups.google.com/d/msgid/ledger-cli/CAPpdf58jqJqa5-4OLnrj4ecVnsufDcD0Di03K1VMA7d14e5Dyw%40mail.gmail.com?utm_medium=email&utm_source=footer> > . > -- --- 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]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/CAPYN8sP90JyYJHYfQRENR%2Buk6pm_GikEmHTG6JyFVPW3Jreu7g%40mail.gmail.com.
