diff --git a/hledger/hledger_options.m4.md b/hledger/hledger_options.m4.md
index 8947f7fac..1fea44351 100644
--- a/hledger/hledger_options.m4.md
+++ b/hledger/hledger_options.m4.md
@@ -450,7 +450,7 @@ if they have a [transaction price](/journal.html#transaction-prices) specified.
## Market value
-The `-V/--value` flag converts reported amounts to their market value in another commodity.
+The `-V/--market` flag converts reported amounts to their market value in another commodity.
It uses the commodity referenced in the latest [market price](journal.html#market-prices) (P directive)
dated on or before the valuation date. The default valuation date is today.
For example:
@@ -483,41 +483,40 @@ $ hledger -f t.j bal -N euros -V
$103.00 assets:euros
```
-A note for Ledger users: Ledger's -V also infers market prices from journal entries,
+Ledger users: Ledger's -V also infers market prices from journal entries,
but we don't do that. hledger's -V uses only market prices declared explicitly, with P directives.
-(Mnemonic: -B/--cost uses transaction prices, -V/--value uses market prices.)
+(Mnemonic: -B/--cost uses transaction prices, -V/--market uses market prices.)
-### Valuation date
+### More control over valuation
-*(experimental, added 201904)*
+*(experimental, added 201905)*
-You can select valuation dates other than today, with the `--value-at` option. (This implies `-V`):
+You can control valuation more precisely with the `--value` option.
- --value-at=VALUEDATE as of which date should market values be calculated ?
- transaction|period|now|YYYY-MM-DD (default: now)
+ --value=TYPE which type of valuation should be done ? cost|end|now|YYYY-MM-DD
-The argument must be one of the keywords shown, or their first letter, or a custom date.
+The argument is one of the keywords shown, or their first letter, or a custom date.
The precise effect of the keywords is command-specific, but here is their general meaning:
-`--value-at=transaction` (or `t`)
-: Use the prices as of each transaction date (more precisely, each [posting's date](/journal.html#posting-dates)).
- Balance reports will show the sum of amount values.
+`--value=cost` (or `c`)
+: Convert amounts to cost, using the prices recorded in transactions.
+ `-B`/`--cost` does this.
-`--value-at=period` (or `p`)
-: Use the prices as of the last day of the report period (or each subperiod in a multiperiod report).
+`--value=end` (or `e`)
+: Convert amounts to their value in default valuation commodity using market prices
+ on the last day of the report period (or of each subperiod in a multiperiod report).
When no report period is specified, uses the journal's last transaction date.
- Balance reports will show the period-end value of summed amounts.
-`--value-at=now` (or `n`)
-: Use the prices as of today's date when the report is generated. This is the default.
- Balance reports will show the current value of summed amounts.
+`--value=now` (or `n`)
+: Convert amounts to their value in default valuation commodity using current market prices
+ (as of when report is generated). `-V`/`--market` does this.
-`--value-at=YYYY-MM-DD`
-: Use the prices as of the given date (8 digits with `-` or `/` or `.` separators).
- Eg `--value-at=2019-04-25`.
- Balance reports will show the value on the given date of summed amounts.
+`--value=YYYY-MM-DD`
+: Convert amounts to their value in default valuation commodity using market prices
+ on the given date (which must be 8 digits with `-` or `/` or `.` separators).
+ Eg `--value=2019-04-25`.
-Here are the effects of `--value-at` as seen with `print`:
+Here are the effects of `--value` as seen with `print`:
```journal
P 2000-01-01 A 1 B
@@ -526,32 +525,32 @@ P 2000-03-01 A 3 B
P 2000-04-01 A 4 B
2000-01-01
- (a) 1 A
+ (a) 1 A @ 5 B
2000-02-01
- (a) 1 A
+ (a) 1 A @ 6 B
2000-03-01
- (a) 1 A
+ (a) 1 A @ 7 B
```
-Show the value as of each transaction (posting) date:
+Show the cost of each posting:
```shell
-$ hledger -f- print --value-at=transaction
+$ hledger -f- print --value=cost
2000/01/01
- (a) 1 B
+ (a) 5 B
2000/02/01
- (a) 2 B
+ (a) 6 B
2000/03/01
- (a) 3 B
+ (a) 7 B
```
Show the value as of the last day of the report period (2000-02-29):
```shell
-$ hledger -f- print --value-at=period date:2000/01-2000/03
+$ hledger -f- print --value=end date:2000/01-2000/03
2000-01-01
(a) 2 B
@@ -562,7 +561,7 @@ $ hledger -f- print --value-at=period date:2000/01-2000/03
With no report period specified, that shows the value as of the last day of the journal (2000-03-01):
```shell
-$ hledger -f- print --value-at=period
+$ hledger -f- print --value=end
2000/01/01
(a) 3 B
@@ -576,7 +575,7 @@ $ hledger -f- print --value-at=period
Show the current value (the 2000-04-01 price is still in effect today):
```shell
-$ hledger -f- print --value-at=now
+$ hledger -f- print --value=now
2000-01-01
(a) 4 B
@@ -590,7 +589,7 @@ $ hledger -f- print --value-at=now
Show the value on 2000/01/15:
```shell
-$ hledger -f- print --value-at=2000-01-15
+$ hledger -f- print --value=2000-01-15
2000/01/01
(a) 1 B
@@ -602,30 +601,30 @@ $ hledger -f- print --value-at=2000-01-15
```
-### Effect of --value-at on reports
+### Effect of --value on reports
-Below is how `--value-at` affects each of hledger's reports, currently.
+Below is how `--value` affects each of hledger's reports, currently.
You're not expected to remember all this, but when troubleshooting a report, look here.
If you find problems - useless reports, misbehaving reports, or error
messages being printed - please report them (with reproducible examples) eg at
[#329](https://github.com/simonmichael/hledger/issues/329).
-| Report type | `--value-at` `transaction` | `--value-at` `period` | `--value-at` `DATE`/`now` |
-|----------------------------------|-----------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------|
-|
**print** | | | |
-| posting amounts | value at posting date | value at report end | value at DATE |
-| balance assertions/assignments | show unvalued | show unvalued | show unvalued |
-|
**register** | | | |
-| starting balance with -H | value at day before report start | value at day before report start | value at DATE |
-| posting amounts | value at posting date | value at report end | value at DATE |
-| posting amounts, multiperiod | value each posting at posting date then summarise | value each summary posting at period end | value each summary posting at DATE |
-| running total/average | sum/average of the displayed values | sum/average of the displayed values | sum/average of the displayed values |
-|
**balance (bs, cf, is..)** | | | |
-| starting balances with -H | sum of values of previous postings at their posting dates | value at day before report start of sum of previous postings | value at DATE of sum of previous postings |
-| balances, simple balance report | sum of values of each posting at posting date | value at period end of sum of postings | value at DATE of sum of postings |
-| balances, multiperiod report | sum of values of each posting at posting date | value at period end of sum of postings | value at DATE of sum of postings |
-| budget amounts with --budget | budget-setting periodic txns are valued at posting date | budget-setting periodic txns are valued at period end | budget-setting periodic txns are valued at DATE |
-| column/row/grand totals/averages | sum/average of the displayed values | value at period end of sum/average of postings | value at DATE of sum/average of postings |
+| Report type | `--value` `cost` | `--value` `end` | `--value` `DATE`/`now` |
+|----------------------------------|-------------------------------------|---------------------------------------------------------------------|--------------------------------------------------|
+|
**print** | | | |
+| posting amounts | cost, as recorded in transaction | market value at report end | market value at DATE |
+| balance assertions/assignments | show unvalued | show unvalued | show unvalued |
+|
**register** | | | |
+| starting balance with -H | cost of starting balance | market value at day before report start | market value at DATE |
+| posting amounts | cost | market value at report end | market value at DATE |
+| posting amounts, multiperiod | summarised cost | market value each summary posting at period end | market value each summary posting at DATE |
+| running total/average | sum/average of the displayed values | sum/average of the displayed values | sum/average of the displayed values |
+|
**balance (bs, cf, is..)** | | | |
+| starting balances with -H | costs of starting balances | market value at day before report start of sum of previous postings | market value at DATE of sum of previous postings |
+| balances, simple balance report | summed costs | market value at period end of sum of postings | market value at DATE of sum of postings |
+| balances, multiperiod report | summed costs | market value at period end of sum of postings | market value at DATE of sum of postings |
+| budget amounts with --budget | costs of budget amounts | budget-setting periodic txns are valued at period end | budget-setting periodic txns are valued at DATE |
+| column/row/grand totals/averages | sum/average of the displayed values | market value at period end of sum/average of postings | market value at DATE of sum/average of postings |
### Some useful value reports
@@ -633,14 +632,12 @@ Here are some probably useful reports - please send suggestions if you find out
| Command: | Description of report: | Could answer: |
|------------------------------|----------------------------------------------------|--------------------------------------------------|
-| `hledger bs -M --value-at=p` | Monthly historical value of assets/liabilities | How are my investments performing ? |
-| `hledger is -M --value-at=t` | Monthly contemporaneous value of revenues/expenses | How much foreign currency have I been spending ? |
-
+| `hledger bs -M --value=p` | Monthly historical value of assets/liabilities | How are my investments performing ? |
+| `hledger is -M --value=t` | Monthly contemporaneous value of revenues/expenses | How much foreign currency have I been spending ? |
-## Combining -B and -V
+## Combining -B, -V, --value
-Using -B/--cost together with -V/--value or --value-at is allowed, but probably not useful.
-(Let us know if you find a use for it.)
+The rightmost of these flags wins.
## Output destination