diff --git a/hledger-lib/Hledger/Data/Posting.hs b/hledger-lib/Hledger/Data/Posting.hs
index 56fe463d3..94e8253b0 100644
--- a/hledger-lib/Hledger/Data/Posting.hs
+++ b/hledger-lib/Hledger/Data/Posting.hs
@@ -322,6 +322,7 @@ postingApplyValuation priceoracle styles periodlast mreportlast today ismultiper
   case v of
     AtCost    Nothing            -> postingToCost styles p
     AtCost    mc                 -> postingValueAtDate priceoracle styles mc periodlast $ postingToCost styles p
+    AtThen    mc                 -> postingValueAtDate priceoracle styles mc (postingDate p) p
     AtEnd     mc                 -> postingValueAtDate priceoracle styles mc periodlast p
     AtNow     mc                 -> postingValueAtDate priceoracle styles mc today p
     AtDefault mc | ismultiperiod -> postingValueAtDate priceoracle styles mc periodlast p
diff --git a/hledger-lib/Hledger/Data/Valuation.hs b/hledger-lib/Hledger/Data/Valuation.hs
index a2fc5c1b0..a46365040 100644
--- a/hledger-lib/Hledger/Data/Valuation.hs
+++ b/hledger-lib/Hledger/Data/Valuation.hs
@@ -79,12 +79,13 @@ instance NFData PriceGraph
 type PriceOracle = (Day, CommoditySymbol, Maybe CommoditySymbol) -> Maybe (CommoditySymbol, Quantity)
 
 -- | What kind of value conversion should be done on amounts ?
--- UI: --value=cost|end|now|DATE[,COMM]
+-- CLI: --value=cost|then|end|now|DATE[,COMM]
 data ValuationType =
     AtCost     (Maybe CommoditySymbol)  -- ^ convert to cost commodity using transaction prices, then optionally to given commodity using market prices at posting date
-  | AtEnd      (Maybe CommoditySymbol)  -- ^ convert to default valuation commodity or given commodity, using market prices at period end(s)
-  | AtNow      (Maybe CommoditySymbol)  -- ^ convert to default valuation commodity or given commodity, using current market prices
-  | AtDate Day (Maybe CommoditySymbol)  -- ^ convert to default valuation commodity or given commodity, using market prices on some date
+  | AtThen     (Maybe CommoditySymbol)  -- ^ convert to default or given valuation commodity, using market prices at each posting's date
+  | AtEnd      (Maybe CommoditySymbol)  -- ^ convert to default or given valuation commodity, using market prices at period end(s)
+  | AtNow      (Maybe CommoditySymbol)  -- ^ convert to default or given valuation commodity, using current market prices
+  | AtDate Day (Maybe CommoditySymbol)  -- ^ convert to default or given valuation commodity, using market prices on some date
   | AtDefault  (Maybe CommoditySymbol)  -- ^ works like AtNow in single period reports, like AtEnd in multiperiod reports
   deriving (Show,Data,Eq) -- Typeable
 
@@ -124,6 +125,9 @@ mixedAmountApplyValuation priceoracle styles periodlast mreportlast today ismult
 -- - the provided "today" date - (--value=now, or -V/X with no report
 --   end date).
 -- 
+-- Note --value=then is not supported by this function, and will cause an error;
+-- use postingApplyValuation for that.
+-- 
 -- This is all a bit complicated. See the reference doc at
 -- https://hledger.org/hledger.html#effect-of-value-on-reports
 -- (hledger_options.m4.md "Effect of --value on reports"), and #1083.
@@ -133,6 +137,8 @@ amountApplyValuation priceoracle styles periodlast mreportlast today ismultiperi
   case v of
     AtCost    Nothing            -> amountToCost styles a
     AtCost    mc                 -> amountValueAtDate priceoracle styles mc periodlast $ amountToCost styles a
+    AtThen    _mc                -> error' "Sorry, --value=then is not yet implemented for this kind of report."  -- TODO
+                                 -- amountValueAtDate priceoracle styles mc periodlast a  -- posting date unknown, handle like AtEnd
     AtEnd     mc                 -> amountValueAtDate priceoracle styles mc periodlast a
     AtNow     mc                 -> amountValueAtDate priceoracle styles mc today a
     AtDefault mc | ismultiperiod -> amountValueAtDate priceoracle styles mc periodlast a
diff --git a/hledger-lib/Hledger/Reports/BudgetReport.hs b/hledger-lib/Hledger/Reports/BudgetReport.hs
index 38dd820dc..ca4e11230 100644
--- a/hledger-lib/Hledger/Reports/BudgetReport.hs
+++ b/hledger-lib/Hledger/Reports/BudgetReport.hs
@@ -253,6 +253,7 @@ budgetReportAsText ropts@ReportOpts{..} budgetr =
       (showDateSpan $ periodicReportSpan budgetr)
       (case value_ of
         Just (AtCost _mc)   -> ", valued at cost"
+        Just (AtThen _mc)   -> error' "Sorry, --value=then is not yet implemented for this kind of report."  -- TODO
         Just (AtEnd _mc)    -> ", valued at period ends"
         Just (AtNow _mc)    -> ", current value"
         -- XXX duplicates the above
diff --git a/hledger-lib/Hledger/Reports/ReportOptions.hs b/hledger-lib/Hledger/Reports/ReportOptions.hs
index d758b416d..391ad184c 100644
--- a/hledger-lib/Hledger/Reports/ReportOptions.hs
+++ b/hledger-lib/Hledger/Reports/ReportOptions.hs
@@ -358,9 +358,10 @@ valuationTypeFromRawOpts = lastMay . collectopts valuationfromrawopt
       | n == "value" = Just $ valuation v
       | otherwise    = Nothing
     valuation v
-      | t `elem` ["cost","c"] = AtCost mc
-      | t `elem` ["end" ,"e"] = AtEnd  mc
-      | t `elem` ["now" ,"n"] = AtNow  mc
+      | t `elem` ["cost","c"]  = AtCost mc
+      | t `elem` ["then" ,"t"] = AtThen  mc
+      | t `elem` ["end" ,"e"]  = AtEnd  mc
+      | t `elem` ["now" ,"n"]  = AtNow  mc
       | otherwise =
           case parsedateM t of
             Just d  -> AtDate d mc
diff --git a/hledger/Hledger/Cli/Commands/Balance.hs b/hledger/Hledger/Cli/Commands/Balance.hs
index d66f85392..c16203ef8 100644
--- a/hledger/Hledger/Cli/Commands/Balance.hs
+++ b/hledger/Hledger/Cli/Commands/Balance.hs
@@ -587,6 +587,7 @@ multiBalanceReportAsText ropts@ReportOpts{..} r =
       (showDateSpan $ periodicReportSpan r)
       (case value_ of
         Just (AtCost _mc)   -> ", valued at cost"
+        Just (AtThen _mc)   -> error' "Sorry, --value=then is not yet implemented for this kind of report."  -- TODO -- ", valued at period ends"  -- handled like AtEnd for now
         Just (AtEnd _mc)    -> ", valued at period ends"
         Just (AtNow _mc)    -> ", current value"
         -- XXX duplicates the above
diff --git a/hledger/Hledger/Cli/CompoundBalanceCommand.hs b/hledger/Hledger/Cli/CompoundBalanceCommand.hs
index b6bca9ed6..48794ad17 100644
--- a/hledger/Hledger/Cli/CompoundBalanceCommand.hs
+++ b/hledger/Hledger/Cli/CompoundBalanceCommand.hs
@@ -217,6 +217,7 @@ compoundBalanceCommand CompoundBalanceCommandSpec{..} opts@CliOpts{reportopts_=r
 
           valuationdesc = case value_ of
             Just (AtCost _mc)   -> ", valued at cost"
+            Just (AtThen _mc)   -> error' "Sorry, --value=then is not yet implemented for this kind of report."  -- TODO
             Just (AtEnd _mc)    -> ", valued at period ends"
             Just (AtNow _mc)    -> ", current value"
             Just (AtDefault _mc) | multiperiod   -> ", valued at period ends"
diff --git a/hledger/hledger.m4.md b/hledger/hledger.m4.md
index c9050b5e6..379d0b73d 100644
--- a/hledger/hledger.m4.md
+++ b/hledger/hledger.m4.md
@@ -8,7 +8,9 @@ m4_dnl  Lines beginning with m4_dnl are comments.
 m4_dnl  Words enclosed in underscores are macros, defined in doc/common.m4.
 m4_dnl  Macro arguments are enclosed in (). Text literals are enclosed in {{}}.
 m4_dnl  Macros may depend on command line flags, configured in Shake.hs.
-m4_dnl  In Emacs markdown-mode S-TAB cycles visibility, TAB toggles one section.
+m4_dnl  In Emacs:
+m4_dnl   markdown-mode S-TAB cycles visibility, TAB toggles one section.
+m4_dnl   C-x n s on a heading narrows to that section (C-x n w to widen again).
 
 m4_dnl Show these first headings only in man pages:
 _man_({{
@@ -1131,10 +1133,11 @@ It is equivalent to `--value=now,COMM` or `--value=end,COMM`.
 
 `-B`, `-V` and `-X` are special cases of the more general `--value` option:
 
-     --value=TYPE[,COMM]  TYPE is cost, end, now or YYYY-MM-DD.
+     --value=TYPE[,COMM]  TYPE is cost, then, end, now or YYYY-MM-DD.
                           COMM is an optional commodity symbol.
                           Shows amounts converted to:
                           - cost commodity using transaction prices (then optionally to COMM using market prices at period end(s))
+                          - default valuation commodity (or COMM) using market prices at posting dates
                           - default valuation commodity (or COMM) using market prices at period end(s)
                           - default valuation commodity (or COMM) using current market prices
                           - default valuation commodity (or COMM) using market prices at some date
@@ -1144,6 +1147,11 @@ The TYPE part basically selects either "cost", or "market value" plus a valuatio
 `--value=cost`
 : Convert amounts to cost, using the prices recorded in transactions.
 
+`--value=then`
+: Convert amounts to their value in a default valuation commodity, using market prices
+  on each posting's date. This is currently supported only by the 
+  [print](#print) and [register](#register) commands.
+
 `--value=end`
 : Convert amounts to their value in a default valuation commodity, using market prices
   on the last day of the report period (or if unspecified, the journal's end date);
@@ -1303,28 +1311,28 @@ Related:
 [#329](https://github.com/simonmichael/hledger/issues/329),
 [#1083](https://github.com/simonmichael/hledger/issues/1083).
 
-| Report type                                     | `-B`, `--value=cost`                          | `-V`, `-X`                                       | `--value=end`                                      | `--value=DATE`, `--value=now`           |
-|-------------------------------------------------|-----------------------------------------------|--------------------------------------------------|----------------------------------------------------|-----------------------------------------|
-| **print**                                       |                                               |                                                  |                                                    |                                         |
-| posting amounts                                 | cost                                          | value at report end or today                     | value at report or journal end                     | value at DATE/today                     |
-| balance assertions / assignments                | unchanged                                     | unchanged                                        | unchanged                                          | unchanged                               |
-| 
                                            |                                               |                                                  |                                                    |                                         |
-| **register**                                    |                                               |                                                  |                                                    |                                         |
-| starting balance (with -H)                      | cost                                          | value at day before report or journal start      | value at day before report or journal start        | value at DATE/today                     |
-| posting amounts (no report interval)            | cost                                          | value at report end or today                     | value at report or journal end                     | value at DATE/today                     |
-| summary posting amounts (with report interval)  | summarised cost                               | value at period ends                             | value at period ends                               | value at DATE/today                     |
-| running total/average                           | sum/average of displayed values               | sum/average of displayed values                  | sum/average of displayed values                    | sum/average of displayed values         |
-| 
                                            |                                               |                                                  |                                                    |                                         |
-| **balance (bs, bse, cf, is..)**                 |                                               |                                                  |                                                    |                                         |
-| balances (no report interval)                   | sums of costs                                 | value at report end or today of sums of postings | value at report or journal end of sums of postings | value at DATE/today of sums of postings |
-| balances (with report interval)                 | sums of costs                                 | value at period ends of sums of postings         | value at period ends of sums of postings           | value at DATE/today of sums of postings |
-| starting balances (with report interval and -H) | sums of costs of postings before report start | sums of postings before report start             | sums of postings before report start               | sums of postings before report start    |
-| budget amounts with --budget                    | like balances                                 | like balances                                    | like balances                                      | like balances                           |
-| grand total (no report interval)                | sum of displayed values                       | sum of displayed values                          | sum of displayed values                            | sum of displayed values                 |
-| row totals/averages (with report interval)      | sums/averages of displayed values             | sums/averages of displayed values                | sums/averages of displayed values                  | sums/averages of displayed values       |
-| column totals                                   | sums of displayed values                      | sums of displayed values                         | sums of displayed values                           | sums of displayed values                |
-| grand total/average                             | sum/average of column totals                  | sum/average of column totals                     | sum/average of column totals                       | sum/average of column totals            |
-| 
                                            |                                               |                                                  |                                                    |                                         |
+| Report type                                     | `-B`, `--value=cost`                          | `-V`, `-X`                                       | `--value=then`                                                       | `--value=end`                                      | `--value=DATE`, `--value=now`           |
+|-------------------------------------------------|-----------------------------------------------|--------------------------------------------------|----------------------------------------------------------------------|----------------------------------------------------|-----------------------------------------|
+| **print**                                       |                                               |                                                  |                                                                      |                                                    |                                         |
+| posting amounts                                 | cost                                          | value at report end or today                     | value at posting date                                                | value at report or journal end                     | value at DATE/today                     |
+| balance assertions / assignments                | unchanged                                     | unchanged                                        | unchanged                                                            | unchanged                                          | unchanged                               |
+| 
                                            |                                               |                                                  |                                                                      |                                                    |                                         |
+| **register**                                    |                                               |                                                  |                                                                      |                                                    |                                         |
+| starting balance (with -H)                      | cost                                          | value at day before report or journal start      | sum of contemporaneous values of postings before report start ? TODO | value at day before report or journal start        | value at DATE/today                     |
+| posting amounts (no report interval)            | cost                                          | value at report end or today                     | value at posting date                                                | value at report or journal end                     | value at DATE/today                     |
+| summary posting amounts (with report interval)  | summarised cost                               | value at period ends                             | sum of contemporaneous values of postings in interval                | value at period ends                               | value at DATE/today                     |
+| running total/average                           | sum/average of displayed values               | sum/average of displayed values                  | sum/average of displayed values                                      | sum/average of displayed values                    | sum/average of displayed values         |
+| 
                                            |                                               |                                                  |                                                                      |                                                    |                                         |
+| **balance (bs, bse, cf, is..)**                 |                                               |                                                  |                                                                      |                                                    |                                         |
+| balances (no report interval)                   | sums of costs                                 | value at report end or today of sums of postings | not supported                                                        | value at report or journal end of sums of postings | value at DATE/today of sums of postings |
+| balances (with report interval)                 | sums of costs                                 | value at period ends of sums of postings         | not supported                                                        | value at period ends of sums of postings           | value at DATE/today of sums of postings |
+| starting balances (with report interval and -H) | sums of costs of postings before report start | sums of postings before report start             | not supported                                                        | sums of postings before report start               | sums of postings before report start    |
+| budget amounts with --budget                    | like balances                                 | like balances                                    | not supported                                                        | like balances                                      | like balances                           |
+| grand total (no report interval)                | sum of displayed values                       | sum of displayed values                          | not supported                                                        | sum of displayed values                            | sum of displayed values                 |
+| row totals/averages (with report interval)      | sums/averages of displayed values             | sums/averages of displayed values                | not supported                                                        | sums/averages of displayed values                  | sums/averages of displayed values       |
+| column totals                                   | sums of displayed values                      | sums of displayed values                         | not supported                                                        | sums of displayed values                           | sums of displayed values                |
+| grand total/average                             | sum/average of column totals                  | sum/average of column totals                     | not supported                                                        | sum/average of column totals                       | sum/average of column totals            |
+| 
                                            |                                               |                                                  |                                                                      |                                                    |                                         |
 
 **Additional notes**
 
diff --git a/tests/journal/valuation.test b/tests/journal/valuation.test
index 8d73ad144..3ffc7a56c 100644
--- a/tests/journal/valuation.test
+++ b/tests/journal/valuation.test
@@ -148,7 +148,20 @@ $ hledger -f- print --value=cost
 
 >=0
 
-# 10. print value using prices on last day of report period (2000-02-29)
+# 10. print value using market prices on each transaction's (posting's) date
+$ hledger -f- print --value=then
+2000-01-01
+    (a)             1 B
+
+2000-02-01
+    (a)             2 B
+
+2000-03-01
+    (a)             3 B
+
+>=0
+
+# 11. print value using prices on last day of report period (2000-02-29)
 $ hledger -f- print --value=end date:2000/01-2000/03
 2000-01-01
     (a)             2 B
@@ -158,7 +171,7 @@ $ hledger -f- print --value=end date:2000/01-2000/03
 
 >=0
 
-# 11. print value using prices on last day of report period (no period specified)
+# 12. print value using prices on last day of report period (no period specified)
 # specified - uses last day of journal (2000-03-01)
 $ hledger -f- print --value=end
 2000-01-01
@@ -172,7 +185,7 @@ $ hledger -f- print --value=end
 
 >=0
 
-# 12. print value using prices on a specified date
+# 13. print value using prices on a specified date
 $ hledger -f- print --value=2000-01-15
 2000-01-01
     (a)             5 B
@@ -185,7 +198,7 @@ $ hledger -f- print --value=2000-01-15
 
 >=0
 
-# 13. print value using prices today
+# 14. print value using prices today
 # (assuming today's date is >= 2000-04-01)
 $ hledger -f- print --value=now
 2000-01-01
@@ -201,31 +214,37 @@ $ hledger -f- print --value=now
 
 # register
 
-# 14. register report valued at cost.
+# 15. register report valued at cost.
 $ hledger -f- reg --value=cost
 2000-01-01                      (a)                            6 B           6 B
 2000-02-01                      (a)                            7 B          13 B
 2000-03-01                      (a)                            8 B          21 B
  
-# 15. register report valued at period end
+# 16. register report valued at posting dates
+$ hledger -f- reg --value=then
+2000-01-01                      (a)                            1 B           1 B
+2000-02-01                      (a)                            2 B           3 B
+2000-03-01                      (a)                            3 B           6 B
+
+# 17. register report valued at period end
 $ hledger -f- reg --value=end
 2000-01-01                      (a)                            3 B           3 B
 2000-02-01                      (a)                            3 B           6 B
 2000-03-01                      (a)                            3 B           9 B
 
-# 16. register report valued at specified date
+# 18. register report valued at specified date
 $ hledger -f- reg --value=2000-01-15
 2000-01-01                      (a)                            5 B           5 B
 2000-02-01                      (a)                            5 B          10 B
 2000-03-01                      (a)                            5 B          15 B
 
-# 17. register report valued today
+# 19. register report valued today
 $ hledger -f- reg --value=now
 2000-01-01                      (a)                            4 B           4 B
 2000-02-01                      (a)                            4 B           8 B
 2000-03-01                      (a)                            4 B          12 B
 
-# 18. single-period register report valued at default date (same as --value=now)
+# 20. single-period register report valued at default date (same as --value=now)
 $ hledger -f- reg -V
 2000-01-01                      (a)                            4 B           4 B
 2000-02-01                      (a)                            4 B           8 B
@@ -233,19 +252,19 @@ $ hledger -f- reg -V
 
 # register with -H (starting balance)
 
-# 19. register with starting balance, valued at cost.
+# 21. register with starting balance, valued at cost.
 $ hledger -f- reg --value=cost -b 200002 -H
 2000-02-01                      (a)                            7 B          13 B
 2000-03-01                      (a)                            8 B          21 B
  
-# 20. register with starting balance, valued at period end.
+# 22. register with starting balance, valued at period end.
 # That is unspecified so the last posting date is used, ie 2000/3/1, so the price is 3 B.
 # Starting balance is 5 B as above.
 $ hledger -f- reg --value=end -b 200002 -H
 2000-02-01                      (a)                            3 B           8 B
 2000-03-01                      (a)                            3 B          11 B
 
-# 21. register with starting balance, valued at specified date (when the price is 5 B).
+# 23. register with starting balance, valued at specified date (when the price is 5 B).
 # Starting balance is 5 B as above.
 $ hledger -f- reg --value=2000-01-15 -b 200002 -H
 2000-02-01                      (a)                            5 B          10 B
@@ -253,7 +272,7 @@ $ hledger -f- reg --value=2000-01-15 -b 200002 -H
 
 # register, periodic
 
-# 22. periodic register report valued at cost.
+# 24. periodic register report valued at cost.
 # The total for january is 6 B (1 A valued at 1/1, price 1 B, and 1 A
 # valued at 1/20, price 5 B).
 # Need an extra transaction for this test:
@@ -298,25 +317,25 @@ P 2000/04/01 A  4 B
 2000/03/01
   (a)      1 A @ 8 B
 
-# 23. periodic register report valued at period end
+# 25. periodic register report valued at period end
 $ hledger -f- reg --value=end -M
 2000/01                 a                                      5 B           5 B
 2000/02                 a                                      2 B           7 B
 2000/03                 a                                      3 B          10 B
 
-# 24. periodic register report valued at specified date
+# 26. periodic register report valued at specified date
 $ hledger -f- reg --value=2000-01-15 -M
 2000/01                 a                                      5 B           5 B
 2000/02                 a                                      5 B          10 B
 2000/03                 a                                      5 B          15 B
 
-# 25. periodic register report valued today
+# 27. periodic register report valued today
 $ hledger -f- reg --value=now -M
 2000/01                 a                                      4 B           4 B
 2000/02                 a                                      4 B           8 B
 2000/03                 a                                      4 B          12 B
 
-# 26. periodic register report valued at default date (same as --value=end)
+# 28. periodic register report valued at default date (same as --value=end)
 $ hledger -f- reg -V -M
 2000/01                 a                                      5 B           5 B
 2000/02                 a                                      2 B           7 B
@@ -324,29 +343,29 @@ $ hledger -f- reg -V -M
 
 # balance
 
-# 27. single column balance report valued at cost
+# 29. single column balance report valued at cost
 $ hledger -f- bal -N --value=cost
                 21 B  a
  
-# 28. single column balance report valued at period end
+# 30. single column balance report valued at period end
 $ hledger -f- bal -N --value=end
                  9 B  a
 
-# 29. single column balance report valued at specified date
+# 31. single column balance report valued at specified date
 $ hledger -f- bal -N --value=2000-01-15
                 15 B  a
 
-# 30. single column balance report valued today
+# 32. single column balance report valued today
 $ hledger -f- bal -N --value=now
                 12 B  a
 
-# 31. single column balance report valued at default date (same as --value=now)
+# 33. single column balance report valued at default date (same as --value=now)
 $ hledger -f- bal -N -V
                 12 B  a
 
 # balance, periodic
 
-# 32. multicolumn balance report valued at cost
+# 34. multicolumn balance report valued at cost
 $ hledger -f- bal -MTA --value=cost
 Balance changes in 2000q1, valued at cost:
 
@@ -356,7 +375,7 @@ Balance changes in 2000q1, valued at cost:
 ---++---------------------------------
    || 6 B  7 B  8 B     21 B      7 B 
  
-# 33. multicolumn balance report valued at period end
+# 35. multicolumn balance report valued at period end
 $ hledger -f- bal -M --value=end
 Balance changes in 2000q1, valued at period ends:
 
@@ -366,7 +385,7 @@ Balance changes in 2000q1, valued at period ends:
 ---++---------------
    || 5 B  2 B  3 B 
 
-# 34. multicolumn balance report valued at period end with -T or -A
+# 36. multicolumn balance report valued at period end with -T or -A
 $ hledger -f- bal -MTA --value=end
 Balance changes in 2000q1, valued at period ends:
 
@@ -376,7 +395,7 @@ Balance changes in 2000q1, valued at period ends:
 ---++---------------------------------
    || 5 B  2 B  3 B     10 B      3 B 
 
-# 35. multicolumn balance report valued at other date
+# 37. multicolumn balance report valued at other date
 $ hledger -f- bal -MTA --value=2000-01-15
 Balance changes in 2000q1, valued at 2000-01-15:
 
@@ -386,7 +405,7 @@ Balance changes in 2000q1, valued at 2000-01-15:
 ---++---------------------------------
    || 5 B  5 B  5 B     15 B      5 B 
 
-# 36. multicolumn balance report valued today (with today >= 2000-04-01)
+# 38. multicolumn balance report valued today (with today >= 2000-04-01)
 $ hledger -f- bal -M --value=now
 Balance changes in 2000q1, current value:
 
@@ -396,7 +415,7 @@ Balance changes in 2000q1, current value:
 ---++---------------
    || 4 B  4 B  4 B 
 
-# 37. multicolumn balance report valued at default date (same as --value=end)
+# 39. multicolumn balance report valued at default date (same as --value=end)
 $ hledger -f- bal -M -V
 Balance changes in 2000q1, valued at period ends:
 
@@ -408,7 +427,7 @@ Balance changes in 2000q1, valued at period ends:
 
 # balance, periodic, with -H (starting balance and accumulating across periods)
 
-# 38. multicolumn balance report with -H, valued at cost.
+# 40. multicolumn balance report with -H, valued at cost.
 # The starting balance on 2000/01/01 is 6 B (cost of the first 2 A).
 # February adds 1 A costing 7 B, making 13 B.
 # March adds 1 A costing 8 B, making 21 B.
@@ -421,7 +440,7 @@ Ending balances (historical) in 2000-02-01-2000-03-31, valued at cost:
 ---++------------------------
    ||       13 B        21 B 
  
-# 39. multicolumn balance report with -H valued at period end.
+# 41. multicolumn balance report with -H valued at period end.
 # The starting balance is 1 A.
 # February adds 1 A making 2 A, which is valued at 2000/02/29 as 4 B.
 # March adds 1 A making 3 A, which is valued at 2000/03/31 as 9 B.
@@ -434,7 +453,7 @@ Ending balances (historical) in 2000-02-01-2000-03-31, valued at period ends:
 ---++---------------------------------
    ||        4 B         9 B      6 B 
 
-# 40. multicolumn balance report with -H valued at other date.
+# 42. multicolumn balance report with -H valued at other date.
 # The starting balance is 5 B (1 A valued at 2000/1/15).
 $ hledger -f- bal -M -H -b 200002 --value=2000-01-15
 Ending balances (historical) in 2000-02-01-2000-03-31, valued at 2000-01-15:
@@ -445,7 +464,7 @@ Ending balances (historical) in 2000-02-01-2000-03-31, valued at 2000-01-15:
 ---++------------------------
    ||       10 B        15 B 
 
-# 41. multicolumn balance report with -H, valuing each period's carried-over balances at cost.
+# 43. multicolumn balance report with -H, valuing each period's carried-over balances at cost.
 <
 P 2000/01/01 A  1 B
 P 2000/01/15 A  5 B
@@ -465,7 +484,7 @@ Ending balances (historical) in 2000q1, valued at cost:
 ---++------------------------------------
    ||        6 B         6 B         6 B 
 
-# 42. multicolumn balance report with -H, valuing each period's carried-over balances at period end.
+# 44. multicolumn balance report with -H, valuing each period's carried-over balances at period end.
 # Unrelated, also -H always disables -T.
 $ hledger -f- bal -META -H -p200001-200004 --value=e
 Ending balances (historical) in 2000q1, valued at period ends:
@@ -476,7 +495,7 @@ Ending balances (historical) in 2000q1, valued at period ends:
 ---++---------------------------------------------
    ||        5 B         2 B         3 B      3 B 
 
-# 43. multicolumn balance report with -H, valuing each period's carried-over balances at other date.
+# 45. multicolumn balance report with -H, valuing each period's carried-over balances at other date.
 $ hledger -f- bal -ME -H -p200001-200004 --value=2000-01-15
 Ending balances (historical) in 2000q1, valued at 2000-01-15:
 
@@ -508,7 +527,7 @@ P 2000/04/01 A  4 B
 2000/03/01
   (a)      1 A @ 8 B
 
-# 44. budget report, unvalued (for reference).
+# 46. budget report, unvalued (for reference).
 $ hledger -f- bal -M --budget
 Budget performance in 2000q1:
 
@@ -518,7 +537,7 @@ Budget performance in 2000q1:
 ---++------------------------------------------------------------
    || 1 A [  50% of 2 A]  1 A [  50% of 2 A]  1 A [  50% of 2 A] 
 
-# 45. budget report, valued at cost. 
+# 47. budget report, valued at cost. 
 $ hledger -f- bal -MTA --budget --value=c
 Budget performance in 2000q1, valued at cost:
 
@@ -528,7 +547,7 @@ Budget performance in 2000q1, valued at cost:
 ---++-----------------------------------------------------------------------------------------------------
    || 6 B [ 300% of 2 B]  7 B [ 350% of 2 B]  8 B [ 400% of 2 B]  21 B [ 350% of 6 B]  7 B [ 350% of 2 B] 
 
-# 46. budget report, valued at period ends.
+# 48. budget report, valued at period ends.
 $ hledger -f- bal -MTA --budget --value=e
 Budget performance in 2000q1, valued at period ends:
 
@@ -538,7 +557,7 @@ Budget performance in 2000q1, valued at period ends:
 ---++----------------------------------------------------------------------------------------------------------
    || 5 B [  50% of 10 B]  2 B [  50% of  4 B]  3 B [  50% of  6 B]  10 B [  50% of 20 B]  3 B [  50% of  7 B] 
 
-# 47. budget report, valued at other date.
+# 49. budget report, valued at other date.
 $ hledger -f- bal -MTA --budget --value=2000-01-15
 Budget performance in 2000q1, valued at 2000-01-15: