2018-06-20 GnuCash IRC logs
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06:20:37 <djx> hello. I'm trying to add a "Sell" transaction of shares of, e.g. AMAZON, which is USD. My bank account (not the gnucash account) is in EUR, and whenever I buy/sell shares the bank does the conversion to/from USD automatically. 2 questions: 1) I've set up an asset account of USD and other of EUR under "Investments". I create a transaction from EUR to USD and then I do the buy/sell of AMAZON, can't I do the conversion from
06:20:37 <djx> EUR->USD->AMAZON in a single transaction or is expected to have a USD account first and then buy/sell shares? 2) When I perform a sell, I create a transaction and move money back to the USD account and then transfer immediately to the EUR account. I've made a capital gain of $1000. How can I keep record of those capital gains?
06:20:58 <djx> thanks in advance
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07:34:29 <jeffpc> djx: I'm not an expert, but I *think* you might be able to do it with the trading "mode"
07:34:47 <jeffpc> I know that you can select it when you create a new .gnucash
07:34:56 <jeffpc> I don't know if there is a way to enable it afterward
07:35:30 <jeffpc> but with it enabled, transactions can get quite complex
07:38:04 <jeffpc> djx: https://wiki.gnucash.org/wiki/Trading_Accounts
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08:01:57 <djx> jeffpc, thanks for the reply. I've set up trading when I created a new .gnucash but it doesn't solve for my question 2)
08:06:50 <jeffpc> ok
08:06:51 <jeffpc> pity
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08:15:18 <chris> I am 100% confident I can do balsheet with multiple time points :-D fell
08:19:18 <fell> chris: nice! I think some users wish to see the opening and closing balance side by side.
08:19:40 <chris> dont this open/close bal make sense for balsheet?
08:19:49 <chris> *don't think
08:20:09 <chris> I can do 'balsheet for 01/01/16, 01/01/17, 01/01/18 in horizontal rows'
08:21:14 <fell> closing bal of 2017 = opening bal of 2018
08:21:42 <chris> well nearly the same thing then
08:23:38 <fell> djx: 2) https://code.gnucash.org/docs/C/gnucash-guide/invest-sell1.html
08:24:48 <fell> About 1) I do it in separate steps, because it is more transparent for me.
08:25:11 <chris> https://imgur.com/J8NghAW :-D
08:26:35 <chris> the 'new' strategy is... if a balsheet is showing total for Asset:UK:Bank1:Current, Asset:UK:Bank1:Savings, then Asset:FR:Bank1:Current,
08:26:59 <chris> it will show subtotal for Asset:UK:Bank1, *then* Asset:UK, *then* Asset:FR:Bank1
08:27:03 <chris> i.e. multilevel subtotals :)
08:27:57 <chris> https://imgur.com/wkLONxV
08:30:13 <djx> fell, thanks for the link. I had already read it closely. On Table 9.10 for example the Profit goes from the brokerage account into the income:capital gain.
08:30:56 <djx> on my transaction, I'm moving the profit to my USD asset
08:30:59 <fell> chris, why is there the root account visible?
08:31:14 <chris> this is from the test-suite only
08:31:20 <chris> it won't appear in real report
08:32:14 <chris> you're very welcome to test the rapidly evolving report :)
08:38:29 <djx> fell, so I can re-invest the capital gains
08:38:38 <fell> djx: while selling some new value is realized/created: That is Income.
08:39:21 <fell> the 2. part is how you use it: bank accout.
08:40:26 <djx> fell, the income will be equal to sell value - buy value - commissions, right?
08:40:41 <fell> yep
08:41:08 <djx> ok, let's assume I have that amount, let's say $200 of capital gains.
08:41:30 <djx> should I create a transaction from the investment account to the income:capital gains?
08:43:04 <fell> "Example 4: Automatic Creation of Capital Gain Or Loss Transactions - After a Simple Stock Split" is about what gnucash can do for you without mayor interaction, but you better use one of the methods descibed before.
08:45:32 <fell> you should really read parts like Conderations. E.g. is FiFo sufficient for your pupose and allowed by your tax office?
08:47:00 <fell> To fully understand it, I would start with 9.7.1. Selling Shares with Manual Calculation of Capital Gain or Loss
08:47:24 <fell> later you can test the other methods.
08:49:40 <djx> fell, I'll take a closer look again, are there any .gnucash with those examples from the pictures?
08:53:31 <fell> Sorry, no, but we are considering to add them - at least in the github repo.
08:58:51 <gour> chris: just wonder, in your fiddling with reports, how much (in %) is scheme/guile and how much gnc infrastructure?
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09:08:51 <chris> 100% guile of course
09:10:06 <fell> djx: It helped me to understand that stuff, to have the advanced portefolio and the balance sheet openin separate tabs and refresh them after each change.
09:43:38 <gour> chris: thanks. it's encouraging to hear
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11:05:12 <gjanssens> .
11:05:12 <gncbot> gjanssens: Sent 4 days, 5 hours, and 43 minutes ago: <chris> or jralls or warlord-afk - I think html-acct-table.scm is rather too limiting - I think is a 'better' version on (gnc:html-build-acct-table) from many years ago - I'll seek to eradicate these old methods and concentrate on html-table only
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11:06:47 <chris> welcome back gjanssens i did further progress, current iteration skips html-acct-table completely - https://imgur.com/J8NghAW and https://imgur.com/wkLONxV now off to sleep!
11:07:10 <gjanssens> chris: good night!
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12:25:17 <djx> fell, I did it!
12:26:07 <djx> holly cow, so I need to create a new "fake" transaction with 0 shares to send it to Income:CapitalGains?
12:26:56 <fell> I would put it as a separate split in the same transaction.
12:27:14 <djx> ohhh, let me try that one
12:27:20 <djx> why doesn't gnucash detect the capital gains based on the Actions?
12:29:32 <fell> because the program is agnostic about which methods are applicable under your legislation.
12:30:25 <djx> ah, the capital gains are only considered because of tax purposes? I was only looking at to know how much gains I was doing it with my investments
12:30:48 <fell> FiFo, LiFo, HiFo, ...
12:31:13 <djx> what's the purpose of the action?
12:33:11 <fell> Not only for tax rules. At least for business users there are also rules how to valuate the positions n the balance.
12:35:12 <fell> E.g. you bought 10@90 and 10@110, sold 10@100. Did you realize a profit or a loss?
12:46:23 <fell> The main purpose of the action field is to classify the splits for yourself.
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13:01:33 <djx> got it. ok 2 more questions. on the main tab "Accounts" I can see in the bottom my net worth in my currency (I assume the networth will be different each day the currency is updated). Why can't I create a monthly report that shows this value? I can create a net worth report for USD with my USD net assets, a net worth for EUR with my EUR net assets but I can't create a EUR net worth that contains both USD and EUR
13:04:40 <djx> 2) Is there a concept of "Events" in the transactions? I went traveling to a country and I've made transactions (hotels, restaurants, etc), can I assign a event called "Trip to France" so I can create a report of my expenses while I was in the France?
13:07:31 <fell> 1) you should discuss with chris after he woke up again. He is the report expert.
13:09:04 <fell> 2) There are enhancement requests in bugzilla and uservoice.
13:09:38 <djx> Can you point them out so I can take a look?
13:09:40 <fell> But my personal opinion is: it is superflous in double entry accounting.
13:10:12 <djx> why so?
13:10:15 <fell> There are other concepts like cost accounting.
13:11:20 <djx> in gnucash? where?
13:14:12 <fell> Lets assume you bought gas for $50 and rode 100km to work and 400km on holiday. Then you move in a secound transaction $10 to Traveling to work and $40 to Holiday. That is much more flexible.
13:15:07 <fell> With the cash flow report you can track the realtions.
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14:25:27 <djx> fell, what about create a new account under each account for the project/ event I want? for example: "expenses:food:restaurant:paris trip", "expenses:food:restaurant:italy trip", "expenses:hotel:paris trip", "expenses:hotel:italy trip"
14:26:21 <djx> (I didn't quite get what could I gain by looking at a cash flow report to know how much I've spent in France for example)
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14:47:40 <fell> djx: because of the combinatorical explosion.
14:49:35 <fell> purpose of cash flow: the office has costs for rent, personal, material, ... and worked xa h for project A, xb h for project B, ...
14:50:15 <fell> But now it is time to leave for today.
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19:22:37 <chris> @tell djx - (2) you can do 'tagging' i.e. every expense to france can have #france2018 somewhere in description/notes/memo, and Transaction Report can Filter to show them only. (1) monthly 'networth' is not yet available as a report. sorry.
19:22:37 <gncbot> chris: The operation succeeded.
19:23:23 <chris> @tell djx you can create any report you want, you just have to code it yourself, or pull from sql backend...
19:23:23 <gncbot> chris: The operation succeeded.
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