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Re: Multiple currency setup and unbalanced general ledger transactions
- Subject: Re: Multiple currency setup and unbalanced general ledger transactions
- From: Nigel Titley <..hidden..>
- Date: Tue, 20 Oct 2009 11:18:42 +0100
> On Tue, 20 Oct 2009, Nigel Titley wrote:
>> The problem is that LSMB does not allow you to create accounts in
>> currencies other than your base currency (see my original description
>> for the the full details, but basically I do almost everything in GBP,
>> but have a EUR account for taking payments from customers who wish to
>> pay in Euros).
> I've followed this, but not as closely as I probably should have.
> So, forgive the question if it is insulting, but do you understand the
> difference between "bank" accounts and "book" accounts?
No insult taken. I think I do, but I'm *not* an accountant and this may
be at the root of the problem.
> Accounts in ledgersmb are denominated in numbers, not currencies.
> Currency is an effect imposed by the transaction, and will determine how
> certain numbers are processed into FX gain/loss accounts.
> Real "checking" and other kind of banking accounts may require special
> treatment. Last time I used SQL-Ledger, it was offering bank accounts as
> a separate item, but that software has gone in a bad direction, so I have
> stopped following it.
Same for me
> LedgerSMB does not currently treat accounts storing actual money in any
> different way than ledger accounts which are effectively line items.
> Whether that kind of thing is coming in 1.3 I don't know, but it probably
> should be.
> It might be useful to have a trigger of some kind that states, in effect
> "when ever money moves out of X account into another, apply an FX
> transaction", but I'm not sure how feasible that is.
Yes, this is effectively what gnucash does, and I'm used to this.
> Than again, it could be that I misunderstand all of this, in which case
> hopefully Chris or someone will tell you to ignore me completely.
I suspect you are right and you are understanding it perfectly.
However, let me re-state my immediate problem:
1. I have unbalanced transactions which I want to get rid of... how do I
Once I'm over that hurdle, I can work around the rest of it myself. I
don't think LedgerSMB should have created them, but that's an issue for