The Pounds/Dollars Conundrum

*WARNING* Anal stuff, read at your own risk.

Keeping accurate records is going to be important when embarking on my quest in 2011. Unfortunately, there are slight problems when considering the consistency of keeping precise records at online poker and this is to do with the currency conversion and the commission on the exchange rates.

* Raw, live poker results in the UK are measured in pounds (£).
* Online results are in dollars ($).
* The exchange rate fluctuates through the year.
* Banks impose a commission charge when withdrawing the dollars.

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This will be my system:

1. Live poker results will be recorded in pounds (£).

EG.

LIVE TALLY
January +£360 / Year +£360
February -£250 / Year +£110
March +£150 / Year +260

etc etc etc

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2. Online results will be recorded in dollars ($) with the addition of showing the conversion to pounds (£) were I to WITHDRAW the money, as per the cashier page - at that moment - from PKR. (There's a tiny bit of give and take here.)

EG.

PKR TALLY
January -$310 (-£190) / Year -$310 (-£190)  Conversion as per 31st Jan '11
February +$560 (+£350) / Year +$250 (+£160)  Conversion as per 28th Feb '11
March -$200 (-£120) / Year +$50 (+£40)  Conversion as per 31st March '11
etc etc etc

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It would then be much easier to do a "Total Tally" using good ol' pounds sterling:

EG.


TOTAL TALLY - POUNDS (£)
January +£170 / Year +£170
February +£100 / Year +£270
March +£30 / Year +£300

But I could also do a conversion BACK into dollars ($). For this, I would use whatever the amount would be in dollars ($) were I to DEPOSIT that money, as per the cashier page - at that moment - into PKR.

TOTAL TALLY - DOLLARS ($)
January +$250 / Year +$250
February +$150 / Year +$350
March +$50 / Year +$400

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This system allows us to see the cash amount won and/or lost were I to actually have access to the readies right there, right then. It doesn't beat around the bush, it's clearly transparent and there's no namby-pamby nonsense!