Clearing Account in other currencies?

Bit of a newbie here, so forgive me if this is a dumb question…

I’ve been reading up on using a Clearing Account to handle inter-account transfers from imported statements. I understand the principal now.

My base currency is GBP but I also operate a number of EUR accounts, so I would really like a clearing account in EUR when transferring within the same currency - otherwise it all gets a bit confused with exchanging in and out of GBP.

There seems no way at the moment to create an Asset account in anything other than the base currency. So what is the correct procedure to adopt here?


I don’t see any alternative to manually entering inter account transfers between accounts in foreign currencies. Someone else may have ideas.

Thanks for the reply.

So yes, back to manually entering transfers and then deleting the originals. Pity.

There is absolutely no reason why you can’t be using Import Bank Statement and the same Clearing Account for the Euro transfers, but if it assists, then setup a separate Euro Clearing Account so that the currencies are separated. Below is a selection of transactions being transferred between two Euro Bank accounts using the Import Bank Statement.

This is how they appear in the Clearing Account, in GBP but always being cancelled out.

This included a change of exchange rate during the month

Definitely no need to do the transfers manually as the process is just a contra of “matching numbers”, regardless of their origins.