My preference is that transactions in a particular ledger account should be exactly the same as those in the corresponding bank statement. So if your bank gives you a different statement for each individual currency then you should have different ledger accounts for each statement/currency.
When it comes time to reconcile your transactions, you will be glad you structured your accounts this way. On Sunday, December 12, 2021 at 1:05:16 PM UTC+8 POliveira wrote: > In addition, there is a 4th Case I forgot to mention, which is cash > holdings. > Do you recommend having a single account Assets:Cash with multiple > currencies in it or instead separate accounts as in Assets:Cash:EUR , > Assets:Cash:USD etc.? And why? > > On Saturday, December 11, 2021 at 12:50:24 PM UTC+4 POliveira wrote: > >> Dear all, >> >> I wanted to know your opinion regarding how to emulate multi-currency or >> multi-commodity accounts. >> I understand this is ultimately subjective, but I hope someone can >> provide me some guidance. >> >> Case #1 >> >> I have multiple bank accounts with my Bank, denominated in different >> currencies. Each account has a distinct account number and I receive an >> individual account statement for each one of them. >> >> Question: Should I (option 1) create/use a separate account in ledger >> (Assets:My Bank:EUR and Assets:My Bank:USD) OR should I (option 2) have >> only one account (Assets:By Bank) which then has holdings in both >> currencies? >> >> I am currently using option 1. >> >> Case #2 >> >> I have an online wallet (imagine something like Paypal, Skrill, or >> Revolut) where I hold multiple currencies and I can do instant currency >> exchanges. For this type of services, I do not receive any statement, >> although I could download one on-demand. Depending on the specific service, >> I may or may not be able to download individual statements for each >> currency. >> >> Question is the same as in Case #1. However, in this case I am using >> option 2. >> >> Case #3 >> >> I have an online brokerage account which I use to buy commodities (let's >> say, corporate stocks). In this platform, I will have a portfolio of >> multiple stocks AND I may have a balance of multiple currencies as well. >> >> Question is the same again. In this case I am using option 2 too. >> >> So, at the end of the day, I would like to know how do you decide whether >> to use multiple single-currency/commodity accounts or a single >> multi-currency/commodity account? >> >> Also, what do you find to be the advantages and disadvantages of each >> approach. >> >> Many thanks, POliveira >> > -- --- 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/cfed6c0c-442c-4b85-bcaf-95b7c1da18b9n%40googlegroups.com.
