Gnucash – Euro & US Dollar

Right, so I have all my accounts in Euro in Gnucash. That’s now a problem since I’ll be spending US Dollars for the next 3 months, but I’ll be servicing loans and bills directly from my account in Euros.
I created a “Cash in wallet – USD” account, with a default currency of USD. That worked a treat when I transfered €200 over to it. Up popped a dialog box asking for the exchange rate or some amount. I entered 230, as that’s the USD value I got back. Nice.
That still doesn’t solve my problem though – do I create a USD version of my most used accounts? Anyone?
Do I simply convert ATM withdrawals over to Euro, and track my spending in Euro still? There’s always a few “misc” entries every few days when I can’t remember what I had for lunch 3 days ago. “Misc” entries could take care of any discrepencies.
Note: I am not doing this for business reasons. This is for my personal records! 🙂

By Donncha

Donncha Ó Caoimh is a software developer at Automattic and WordPress plugin developer. He posts photos at In Photos and can also be found on Twitter.

1 reply on “Gnucash – Euro & US Dollar”

My past experience is that a month isn’t long enough to worry about tracking everything in the local currency, but six months is. I’m not sure where the crossover point is, though. I’d say you’re probably going to be pretty close to it.

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