Is there an easy way to differentiate between realized and unrealized forex gains? I am primarily looking at this feature for the purposes of tax reporting.
Loving everything about Manager otherwise!
As far as I am aware, Manager only shows realized forex gains/losses.
Starting from scratch and while having AUD as a base currency, I:
- Entered a few income transactions in USD
- Entered currency exchange rate for the dates relevant to those transactions
At this point, Manager does show currency exchange gains/losses even though I have not sold/bought any foreign exchange currency. So it should be showing unrealized gain/loss?
Could anyone answer this please?
That does not matter. You recorded transactions that affect your balance sheet in a foreign currency. You entered multiple exchange rates. Each exchange rate is used to recalculate the conversions of your balance sheet into base currency. Therefore, those balance sheet accounts are worth more or less in your base currency. The differences go to Foreign exchange gains (losses). This is required so the accounting equation balances (Assets = Liabilities + Equity).
At this moment, the program does not support separate recognition of realized and unrealized FX gains or losses.
There is an item in the “ideas” category for this: