2014-02-27 GnuCash IRC logs
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07:22:10 <ceahk> Hello Gnucash, is anybody there to help?
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07:27:52 <ceahk> Maybe, I'll write my question here. I have an FX transaction buy HKD sold USD. I entered first in the USD a/c. Since, the Reporting Currency is HKD, I input the FX 7.74 in the FX dialogue box. I entered the Transfer A/C to the HKD a/c. But, it multiplies the Amount 4x (four times). There isn't any simple straight screen snapshot illustration to teach user how to enter FX transaction. Maybe, it overlooked the fact that FX is the core concept in Investments an
07:27:52 <ceahk> others. Another strange things happens, I couldn't see the opposite HKD transaction under the HKD a/c list of transaction. I had deleted the USD entry, trying to start from scratch. But didn't make the HKD reappear.
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07:40:54 <ceahk> Hello, it's the 1st time I use IRC Chat. Am I doing right to just post my question to basically All the 28 members. Or, do I specify anyone member? Thanks, Joan
07:45:14 <gjanssens> ceahk: you're doing it correctly
07:45:42 <gjanssens> By entering the question for all members of the chat anyone can answer
07:46:04 <ceahk> Oh, thank you.
07:46:40 <gjanssens> I can't help you with your real question though. I have no experience with multi currency accounting
07:46:58 <gjanssens> Perhaps someone else will see your question and can help you
07:47:06 <gjanssens> Just be patient for a while
07:48:26 <ceahk> I have emailed to Mail List: gnucash-user@gnucash.org as well. I'll check out now cos' it's 9pm over here in HKG.
07:51:41 <gjanssens> Ok good night :)
07:57:09 <warlord> ceahk: how did you enter your transaction? did you use the register entry or the transfer dialog?
07:58:31 <ceahk> Register Entry - I double-click the Account in the Account Tab, then the Registry pops up.
08:03:22 <warlord> okay, and this is a USD register?
08:03:26 <warlord> Or an HKD register?
08:08:19 <ceahk> Local CURRENCY is HKD. Entered in USD A/C. So, it is a USD Register.
08:11:47 <warlord> If the local currency is HKD why did you enter it in the USD account?
08:12:35 <warlord> Anyways, how did you enter it? What numbers into what columns? What key presses did you use to get over to the exchange rate dialog?
08:13:04 <ceahk> My only question is why when I enter a HKD:USD FX transaction in the USD Registry, it does not show the opposite entry in the HKD Registry, even though I have specified the TRANSFER to HKD a/c in the Transfer Column. And, I did a test vice versa, Enter a completely new entry from the HKD Registry, Specify is a Transfer to the USD A/C, same thing happen - the Opposite Entry is not Shown.
08:17:04 <ceahk> I first created an Account named "USD" in the Account Name. Select "USD" in the Currency/Security tab. Select A/C Type "Assets". Then, select "Parent A/C" under "Assets -> Current Assets". This is my USD Registry. I thought Gnucash 2.6.1 support multi-currency. Note, in the Preference setup, I have selected HKD as the local currency. Does that sound right?
08:19:00 <warlord> ceahk: when you create the transaction in the USD account then the "common currency" of the transaction is USD. That means each split needs to resolve to USD (i.e., "HKD" is the "foreign currency")
08:19:23 <warlord> If the opposite entry isn't shown, that means there is not a proper exchange rate entered.
08:19:38 <warlord> Are you using Basic register mode or one of the Split Regsiter modes?
08:19:46 <ceahk> When I come to enter a HKD:USD FX, I click open the "USD Registry", in the "Transfer" column, I click the "dot", then select Assets:Current Assets:HKD a/c". Then, the FX dialog box pops-up. I went on to type the FX rate 7.75.
08:22:01 <ceahk> I am using Basic register. Maybe, let's start from the beginning. Am I right to specify "USD" for a USD a/c to set the common currency. Or, what should be the common currency and foreign currency in this case?
08:22:41 <warlord> let's take one step back: what is this real-world transaction that you're trying to enter? What exactly did you do in real-life?
08:26:44 <ceahk> I was looking at a UBS statement with one in USD a/c and one in HKD a/c. They both have the same transaction, but one is Debit the other is a Credit. The amount is exactly the FX rate, which is the only 1 FX rate. In number terms, it reads "27/03 You bought HKD 3,170,094.81 @ 7.7518 in US Dollar A/C, Debit USD 408,947.98. On the HK Dollar A/C, it reads "You sold USD 408,947.98 on 27/03 - Credit HKD 3,170,094.81".
08:37:15 <ceahk> Hi Warlord, just to let you know it is 9:30pm, I am aiming to get this done tonight. Do you think you can see to my questions on the first hand basis. I did not recall inputting an FX rate to the USD A/C. So, the software wouldn't think I had entered a wrong FX. Could you elaborate the point, you said the Rate is not proper. Where is the FX rate kept in the GnuCash software?
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09:09:00 <ceahk> I wonder why the FX Rate field in the FX dialogue box only show an integer with a slash, like 4/3.75, when I have input 7.75. Or, it shows 7 + 134/456. And, the Balance Sheet Report has the left column (I assume is the USD Currency) not 7.75x to the column of the Main currency (Report Currency "HKD"). It all happens when you have a transaction involving 2 Accounts of a different currency. This happens only in the USD:HKD FX example I had shown before, but th
09:09:01 <ceahk> same error also happens in the other one USD Time Loan A/C, or a USD Loan A/C. This is puzzling because the FX field didn't take in exact figures, like 7.75. It actually is making it's own calculations, manifested as "7 + 134/456 or 4/3.75. But, the darkened confirmation box next to the FX display box is correctly showing what you typed in, like 7.75. Well, I hope there will be an answer tomorrow. So, I will check-in again tomorrow.
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10:15:10 <warlord> sorry, I had to take my daughter to school
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10:36:28 <[irc> I have entered all transactions for 3 years in Total, is there a way to "Close Book" for each individual year?
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10:38:52 <warlord> [irc: sure, close the book for each year.
10:39:01 <warlord> ... oldest year first
10:40:05 <[irc> Great, will do.Just wanted to make sure. I assume if I have prior transactions that need to be captured, I should do them first right?
10:43:44 <warlord> Yes, once you start reconciling or closing the books then you really cannot easily go "back in time". You should get all your history entered before you begin those processes.
10:44:04 <warlord> This is why it's called "Starting Balance".. You roll up all previous transactions into that starting balance.
10:45:22 <[irc> Thanks Warlord. Noted...wont happen again:-)
10:45:35 <warlord> :)
10:47:03 <[irc> One more Question, is there a standard Report for Income and Expenditur for a Fiscal, that shows each months totals for accounts, within that fiscal?
10:47:51 <warlord> [irc: there's the "transaction report", but it sounds like you want a monthly Income Statement.. You could just run the Income Statement 12 times, one for each month.
10:50:07 <[irc> Thanks, Cheers
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11:15:13 <JeremyK> A while back you helped me create an estimate date "(est-date (gncEntryGetDate (car (reverse (gncInvoiceGetEntries invoice)))))" works wonders, thank you. is there a way to create another that will add 30 days to est-date ie: (val-date (est-date + 30))?
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11:25:19 <warlord> JeremyK: yes.. Give me a few minutes -- but you can look at the Aging reports for an example while I'm away.
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11:36:13 <warlord> JeremyK: Try: (incdate est-date ThirtyDayDelta)
11:37:01 <warlord> (defined in date-utilities and app-utils
11:47:19 <JeremyK> thanks so much. again
11:50:58 <warlord> You're welcome.
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