Hi, Beancount newbie here so still struggling with the basic accounting concepts.
I work as a freelance developer. For each invoice I must collect GST/VAT (15%). Every six months I must pay the collected GST, minus GST deduced from my business expenses. Similarly I must pay income tax every 6 months at a given rate (30%), calculated as the difference between my income less business expenses. For example, a typical invoice transaction might look like this. 2020-01-28 * ""Invoice XX"" Assets:Checking 115 Income:ClientA:Net 100 Income:GST 15 Ledger's Virtual Posting would allow to easily keep track of the owned tax like this: 2020-01-28 * ""Invoice XX"" Assets:Checking 115 Income:ClientA:Net 100 Income:GST 15 (Liability:Tax:GST 15) (Liability:Tax:Income 30) I understand the reason why beancount doesn't support VIrtual Postings, but I can't figure out what would make be a good strategy to produce a balanced transaction and keep track of how much money I owe the taxman at a given time. -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/68a95109-e17a-4e7d-a753-ab35d24d84d1%40googlegroups.com.
