Currency conversions - Equity:Opening-Balances or Equity:Conversions?

Oon-Ee Ng

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Jul 5, 2021, 10:41:45 PM7/5/21

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I have a few transactions (listed below) converting from SGD to USD:-

2020-11-15 * "Purchase USD with SGD"
Assets:Equities:IBKR:USD 7848.00 USD @@ 10577.93 SGD
Expenses:Bills:BankCharges 2.00 USD
Assets:Equities:IBKR:USD -2.00 USD
Assets:Equities:IBKR:SGD -10577.93 SGD

2020-11-17 * "Purchase USD with SGD"
Assets:Equities:IBKR:USD 1.67 USD @@ 2.24 SGD
Assets:Equities:IBKR:SGD -2.24 SGD

2021-03-31 * "Purchase USD with SGD"
Assets:Equities:IBKR:USD 5524.00 USD @ 1.34495 SGD
Expenses:Bills:BankCharges 4.00 USD
Assets:Equities:IBKR:USD -4.00 USD
Assets:Equities:IBKR:SGD -7429.50 SGD

2021-04-05 * "Sweep remaining SGD to USD"
Assets:Equities:IBKR:SGD -0.22 SGD
Assets:Equities:IBKR:USD 0.1611 USD @ 1.34175 SGD

The 2020 transactions get "added" (debited, I think, not sure whether its a credit or debit) to Equity:Opening-Balances while the 2021 transactions get "added' to Equity:Conversions. I've read the 'Costs and Prices' section of the documentation, but it just says you can either use the price (@) or the total cost (@@), without really explaining what the difference is.

Could someone please help me understand why these go to different accounts, and what that 'means' in a financial sense?

Martin Blais

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Jul 6, 2021, 9:49:15 PM7/6/21

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@@ vs @ doesn't change anything but the multiplier. @@ will automatically calculate the rate based on the total amount, it doesn't change the opening balances or conversions.

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Alan H

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Jul 7, 2021, 6:28:36 AM7/7/21

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I suspect that the crossing of the calendar year may be what is causing these to 'appear' in unusual places in (presumably) fava.

Oon-Ee Ng

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Jul 9, 2021, 9:05:36 PM7/9/21

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Wait things differ based on whether they're current or previous year? Yes this is with fava.

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Alan H

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Jul 20, 2021, 8:32:59 AM7/20/21

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Yes - On an income/expense statement Expenses and Income prior to the period you are examining will show up under Equity.

This is expected as you have asked fava to report activity for a specific period of time. Transactions outside that time are accounted for in the Equity section.