I currently have this under income. But it is not really income or an expense.
Is it possible to move this to equity which I believe is where the suspense account is located. Suspense account is created here when you forget to allocate an expense/income to an account. So it would be logical to move Foreign exchange account to this location.
While Foreign exchange gains/losses is obviously very different from suspense accounts, I suspect for most people the end result is very similar. You only have to deal with the suspense account when there is an amount in it. For me (and probably many other users), the Foreign exchange gains/losses account is only relevant to me to ensure that when I make a payment in a foreign currency for some goods that I have the correct exchange rate set so that the resulting balance is always zero.
I don’t make a profit or loss using foreign exchange and I suspect 99% of the users using Manager use it in the same way. We buy a product for $100, pay £85 and we have to put in the exchange rate in manager to match that of our bank statement and end up with a zero balance in foreign exchanges. So having it as in income/expense account is not suitable.
For me, this account is more like the suspense account. I just need to get the balance to be zero.