I started using GnuCash when I used in Germany and hence I have a whole EUR structure in my database (Aktiva, Anfangszustand, Aufwendungen, Ertraege, Fremdkapital).
Later, I moved to the US. I created a new gnuCash database for that (US Assets, US Equity, US Expenses, US Income, US Liabilities). However, soon I found that this is not optimal because I would buy stuff for the US with my EUR accounts and vice versa. After a couple of months I merged my two files and since then I have hierarchies in both US and EUR and I feel this is a mess.
My question is: What is the recommended way to organize the hierarchy?
Does it sound good to have both in parallel? Or would it be better to a common "Assets", "Expenses", "Income", "Liabilities" and "Equity" container and move all accounts underneath it? Would I use EUR or USD for the top level account?
I somewhat find the second approach appealing but I am not sure if I that's the right thing to do.
Finally, from travelling, I have some hash in other currencies that I track with gnuCash. Currently I have them under "Aktiva" (which is EUR) as "Cash (AUD)", "Cash (Swiss)", "Cash (Turkey)" etc. But this seems random to me. What is the proper way to organize this?