How to deal with the EUR/XRP tolerance in this case
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Peter
Dec 31, 2020, 10:36:33 AM12/31/20
to Beancount
Hi,
I ran into a new obstacle while dealing with my crypto:
Because of the eight digits most cryptocurrencies can be divided into, I had to add a default EUR tolerance:
option "inferred_tolerance_default" "EUR:0.001"
E.g.:
option "booking_method" "FIFO"
plugin "beancount.plugins.auto_accounts"
option "inferred_tolerance_default" "EUR:0.001"
2020-07-01 * "" "Buy XRP"
Assets:Cash:Binance -200.00 EUR
Assets:Crypto:XRP:Binance 1,000 XRP {0.2 EUR} @ 0.2 EUR
2020-07-15 * "" "Buy XRP"
Assets:Cash:Binance -214.158 EUR
Assets:Crypto:XRP:Binance 428.3171498 XRP {0.5 EUR} @ 0.5 EUR
The second transaction will fail without the option.
Then I tried to book a transfer manually:
option "booking_method" "FIFO"
plugin "beancount.plugins.auto_accounts"
option "inferred_tolerance_default" "EUR:0.001"
2020-07-15 * "" "Buy XRP"
Assets:Cash:Binance -214.158 EUR
Assets:Crypto:XRP:Binance 428.3171498 XRP {0.5 EUR} @ 0.5 EUR
2020-07-30 * "" "Buy XRP"
Assets:Cash:Binance -200.00 EUR
Assets:Crypto:XRP:Binance 2,000 XRP {0.1 EUR} @ 0.1 EUR
2020-07-31 * "" "Transfer"
Assets:Crypto:XRP:Binance -2,428.3171498 XRP {}
Assets:Crypto:XRP:Coinbase-Pro 428.3171487 XRP {0.5 EUR, 2020-07-15} ; reduced by 0.00000011 XRP
Assets:Crypto:XRP:Coinbase-Pro 2,000.00000000 XRP {0.1 EUR, 2020-07-30}
; transaction fee leg missing, therefore unbalanced by 0.00000011
The transaction has an assumed fee of 0.00000011 XRP.
I saved the file while creating the transaction. I noticed that beancount didn't yield a warning/error that the transaction doesn't balance, although I didn't add all legs to the transaction and the numbers didn't add up.
That's because of the EUR tolerance. If I delete the line
option "inferred_tolerance_default" "EUR:0.001"
beancount yields me an error because of the incomplete transaction, but then again also for the first transaction.
To sum it up: Without the tolerance option beancount yields me a lot of unbalanced transaction errors where the (real) EUR amounts are off by a tiny fraction of cents. But with the tolerance option set beancount seems to ignore unbalanced crypto lots up to the third decimal digit. E.g.: I could cap the XRP amount to:
2020-07-31 * "" "Transfer"
Assets:Crypto:XRP:Binance -2,428.3171498 XRP {}
Assets:Crypto:XRP:Coinbase-Pro 428.317 XRP {0.5 EUR, 2020-07-15}
Assets:Crypto:XRP:Coinbase-Pro 2,000 XRP {0.1 EUR, 2020-07-30}
And there's no warning/error.
If the same kind of problem could occur with BTC the capped 0.0001498 units would sum up to 3,45€.
How can I deal with that?
Regards
Peter
Jan 2, 2021, 7:48:11 AM1/2/21
to Beancount
Hi,
I was off a little with the numbers (off by two decimal digits too much)
That is the correct example:
option "booking_method" "FIFO"
plugin "beancount.plugins.auto_accounts"
option "inferred_tolerance_default" "EUR:0.001"
2020-07-15 * "" "Buy XRP"
Assets:Cash:Binance -214.158 EUR
Assets:Crypto:XRP:Binance 428.317149 XRP {0.5 EUR} @ 0.5 EUR
2020-07-30 * "" "Buy XRP"
Assets:Cash:Binance -200.00 EUR
Assets:Crypto:XRP:Binance 2,000 XRP {0.1 EUR} @ 0.1 EUR
2020-07-31 * "" "Transfer"
Assets:Crypto:XRP:Binance -2,428.317149 XRP {}
Assets:Crypto:XRP:Coinbase-Pro 2,000.000000 XRP {0.1 EUR, 2020-07-30}
Assets:Crypto:XRP:Coinbase-Pro 428.317127 XRP {0.5 EUR, 2020-07-15}
; ↑↑ 0.000022 missing and no error
Maybe I am pendantic here, because the value of 0.000022 XRP @ 0.5 EUR is 0.0011 cents and therefore really doesn't matter. What bothers me is that it is possible that coin units can be "lost". Even bean-doctor won't say a word about the missing units:
------------ Balances before transaction
Assets:Crypto:XRP:Binance 428.317149 XRP {0.5 EUR, 2020-07-15}
Assets:Crypto:XRP:Binance 2000 XRP {0.1 EUR, 2020-07-30}
Assets:Crypto:XRP:Coinbase-Pro
------------ Transaction
2020-07-31 * "Transfer"
Assets:Crypto:XRP:Binance -428.317149 XRP {0.5 EUR, 2020-07-15} ; -214.1585745 EUR
Assets:Crypto:XRP:Binance -2000.000000 XRP {0.1 EUR, 2020-07-30} ; -200.0 EUR
Assets:Crypto:XRP:Coinbase-Pro 2000.000000 XRP {0.1 EUR, 2020-07-30} ; 200.0000000 EUR
Assets:Crypto:XRP:Coinbase-Pro 428.317000 XRP {0.5 EUR, 2020-07-15} ; 214.1585 EUR
Residual: (-0.0000745 EUR)
Tolerances: XRP=0.0005
Basis: (-0.0000745 EUR)
------------ Balances after transaction
Assets:Crypto:XRP:Binance
* Assets:Crypto:XRP:Coinbase-Pro 2000.000000 XRP {0.1 EUR, 2020-07-30}
* Assets:Crypto:XRP:Coinbase-Pro 428.317 XRP {0.5 EUR, 2020-07-15}
As I said, it is possible to strip the decimal digits 4-6:
Assets:Crypto:XRP:Coinbase-Pro 428.317 XRP {0.5 EUR, 2020-07-15}
Assuming the price rises sometimes to 150.5 EUR the value of 0.000149 XRP is high enough to be relevant:
option "booking_method" "FIFO"
plugin "beancount.plugins.auto_accounts"
option "inferred_tolerance_default" "EUR:0.001"
2020-07-15 * "" "Buy XRP"
Assets:Cash:Binance -214.158 EUR
Assets:Crypto:XRP:Binance 428.317149 XRP {0.5 EUR} @ 0.5 EUR
2020-07-30 * "" "Buy XRP"
Assets:Cash:Binance -200.00 EUR
Assets:Crypto:XRP:Binance 2,000 XRP {0.1 EUR} @ 0.1 EUR
2020-07-31 * "" "Transfer"
Assets:Crypto:XRP:Binance -2,428.317149 XRP {}
Assets:Crypto:XRP:Coinbase-Pro 2,000.000000 XRP {0.1 EUR, 2020-07-30}
Assets:Crypto:XRP:Coinbase-Pro 428.317 XRP {0.5 EUR, 2020-07-15}
; ↑↑ 0.000149 missing and no error
2021-01-02 price XRP 150.5 EUR
; Value of the 0.000149 XRP @ 150.5 is 0.022 EUR
Still no error. Having some hundreds txn this could sum up.
Maybe I'm wrong here, because I'm missing/misunderstood something.
Regards
c79m...@gmail.com
Jan 2, 2021, 2:56:10 PM1/2/21
to Beancount
Peter,
I don't have any experience with the issues you're dealing with, but I can't help but notice this line in your output: "Tolerances: XRP=0.0005" That sure looks like Beancount is using less than your provided 8 significant digits. Why, or how to fix it, I don't know. Can you add another tolerance statement for the XRP as well? option "inferred_tolerance_default" "XRP:0.00000001" ??
- Cameron Murphy
Ben Blount
Jan 2, 2021, 7:29:10 PM1/2/21
to Beancount
Have you seen/read https://beancount.github.io/docs/precision_tolerances.html ?
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