Re: [GNC] Income Statement versus Transaction Report
See https://bugs.gnucash.org/show_bug.cgi?id=797796. It has a long and detailed discussion about handling foreign-currency investments. CDB-Man is a licensed accountant practicing in Vancouver, BC. My take-away from that discussion is that GnuCash has painted itself into a corner by not enforcing the home-currency rules, particularly for Equity accounts, that CDB-Man explains there. Without that discipline it's very difficult to reconstruct the correct home-currency amounts to report, including especially the capital gains and losses from the foreign currency piece of the equation. Unfortunately I also think that imposing those restrictions in a future version of GnuCash would create discontent that would make the recent complaints about quickfill seem like meek acceptance. In any case it's not on the agenda to do so. Users who have multiple-currency books will have to go learn the rules and impose the discipline on themselves; if they do so I'm reasonably sure that the Average Cost price source will then give correct and consistent (instead of the current merely consistent) results. The PriceDB-based price sources can't, nor are they intended to, give correct results. They're what-if tools, as in "How much money in currency X would I have if I sold all of my investments and converted all of my cash to currency X today?". It's fun to do but not particularly meaningful. Regards, John Ralls > On Jul 20, 2023, at 10:24 AM, Adrien Monteleone > wrote: > > Ah. Interesting conundrum. > > Many moons ago that there was issue with some of the code for the various > price options in reports. I don't recall the details, but I seem to remember > that 'average' was thought to be the most accurate at the time, and there was > discussion of removing the other options until they could be fixed/improved. > > I'm not sure what progress has been made in that regard since. > > In the meantime, I wonder what happens if you created additional splits (or > separate transactions) between the two currencies - say from a USD income to > a COP asset, with the accounts used just for reporting purposes. I would > think you'd get your trading splits in that case, and can specify the proper > FX. Then you'd have fixed transactions for the report which wouldn't need > price conversion at all, since they would be in the transaction itself. > > Of course, with the extra accounts, you'd need to exclude them from other > reports like a Balance Sheet. > > Regards, > Adrien > > On 7/20/23 12:11 AM, Fred Tydeman wrote: >> I have Trading turned on. >> The income accounts in question are using COP as their currency. >> Transactions in those accounts do not show any splits for Trading. >> Income in those accounts is coming from an Asset account that also is in >> COP. >> So, there is no conversion between COP and USD involved in that transaction. > > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
Ah. Interesting conundrum. Many moons ago that there was issue with some of the code for the various price options in reports. I don't recall the details, but I seem to remember that 'average' was thought to be the most accurate at the time, and there was discussion of removing the other options until they could be fixed/improved. I'm not sure what progress has been made in that regard since. In the meantime, I wonder what happens if you created additional splits (or separate transactions) between the two currencies - say from a USD income to a COP asset, with the accounts used just for reporting purposes. I would think you'd get your trading splits in that case, and can specify the proper FX. Then you'd have fixed transactions for the report which wouldn't need price conversion at all, since they would be in the transaction itself. Of course, with the extra accounts, you'd need to exclude them from other reports like a Balance Sheet. Regards, Adrien On 7/20/23 12:11 AM, Fred Tydeman wrote: I have Trading turned on. The income accounts in question are using COP as their currency. Transactions in those accounts do not show any splits for Trading. Income in those accounts is coming from an Asset account that also is in COP. So, there is no conversion between COP and USD involved in that transaction. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
On Wed, Jul 19, 2023 at 9:09 PM Steve Butler wrote: > Look on the currency tab if I remember correctly. > Transaction Report: Options: Currency: Price source: Last up through report date. Income Statement: Options: Commodities: Price source: Last up through report date. So, they are the same. Yet reports differ. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
On Wed, Jul 19, 2023 at 9:44 PM Adrien Monteleone < adrien.montele...@lusfiber.net> wrote: > I could be mistaken, but if you wanted each and every transaction to be > converted to the FX rate at the time of each transaction, then the only > way to do that would be with trading accounts turned on when you entered > them. (or turn them on and re-create/edit each one, but that could be an > enormous amount of work.) > > In such a case, trading splits are added to cross-currency transactions > when they are entered. > I have Trading turned on. The income accounts in question are using COP as their currency. Transactions in those accounts do not show any splits for Trading. Income in those accounts is coming from an Asset account that also is in COP. So, there is no conversion between COP and USD involved in that transaction. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
I could be mistaken, but if you wanted each and every transaction to be converted to the FX rate at the time of each transaction, then the only way to do that would be with trading accounts turned on when you entered them. (or turn them on and re-create/edit each one, but that could be an enormous amount of work.) In such a case, trading splits are added to cross-currency transactions when they are entered. Regards, Adrien On 7/19/23 11:32 PM, Fred Tydeman wrote: Both reports are: Start of previous year and End of previous year Both reports select all the Income accounts. In playing around, if I change Commodities: Price Source: to Weighted average of all transactions in the past, then the two reports match. But, the Transaction report is using the same COP/USD conversion for each month (instead of the proper monthly conversion rate). ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
On Wed, Jul 19, 2023 at 8:24 PM David Cousens wrote: > Fred, > > You may need to look at the report options for the transaction report to > ensure > they match the settings used for the income statement report particularly > the > setting for beginning and end dates and the account settings. > Both reports are: Start of previous year and End of previous year Both reports select all the Income accounts. In playing around, if I change Commodities: Price Source: to Weighted average of all transactions in the past, then the two reports match. But, the Transaction report is using the same COP/USD conversion for each month (instead of the proper monthly conversion rate). ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
Look on the currency tab if I remember correctly. On Wed, Jul 19, 2023, 20:25 David Cousens wrote: > Fred, > > You may need to look at the report options for the transaction report to > ensure > they match the settings used for the income statement report particularly > the > setting for beginning and end dates and the account settings. > > David Cousens > > On Wed, 2023-07-19 at 19:26 -0700, Fred Tydeman wrote: > > In looking at Income Statement versus Transaction Report for just > > Income accounts for all of last year, the numbers do not match. > > > > My main currency is USD. However, for this file, all the income > > was in COP. Now, during the year the number of COP / USD varied > > a lot: from around 3748 to 4846; year end was 4846. > > > > For Report Options, I am picking: > >Commodities: Price Source: Last up through report date. > > > > It appears that the Income Statement sums up all the COP > > for the year and uses the year end COP/USD value. > > > > While the Transaction Report uses the month end COP/USD value > > for the transactions in that month. > > > > I believe that the US tax people want foreign transaction values > > converted to USD at the time of the transaction (not use the > > year end COP/USD value). So, I think the Transaction Report > > has the correct values. > > > > Is there a way to have the Income Statement use values like the > > Transaction Report? > > ___ > > gnucash-user mailing list > > gnucash-user@gnucash.org > > 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. > > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. > ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Income Statement versus Transaction Report
Fred, You may need to look at the report options for the transaction report to ensure they match the settings used for the income statement report particularly the setting for beginning and end dates and the account settings. David Cousens On Wed, 2023-07-19 at 19:26 -0700, Fred Tydeman wrote: > In looking at Income Statement versus Transaction Report for just > Income accounts for all of last year, the numbers do not match. > > My main currency is USD. However, for this file, all the income > was in COP. Now, during the year the number of COP / USD varied > a lot: from around 3748 to 4846; year end was 4846. > > For Report Options, I am picking: > Commodities: Price Source: Last up through report date. > > It appears that the Income Statement sums up all the COP > for the year and uses the year end COP/USD value. > > While the Transaction Report uses the month end COP/USD value > for the transactions in that month. > > I believe that the US tax people want foreign transaction values > converted to USD at the time of the transaction (not use the > year end COP/USD value). So, I think the Transaction Report > has the correct values. > > Is there a way to have the Income Statement use values like the > Transaction Report? > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
