Hi,
the accounts area always from your point of view. So what you are owed
are assets, what you are owing are liabilities.
I think I would model it like this
The sell is the one that actually "splits" the bill into your income and
into what is simply tax liability
2023-03-2 * Invoice 2023_1 Things I did for you ^invoice_2023_1
Assets:Receivables:Customers:X 1000 EUR
Income:Invoices -800 EUR
Liabilities:Tax:VAT -200 EUR
The actual receiving of cash is then only clearing out what the customer
owes you vs what you have in your bank/cash account.
2023-04-02 * Payment for invoice 2023_1 ^invoice_2023_1
Assets:Receivables:Customers:X -1000 EUR
Assets:Current 1000 EUR
And then later when you actually pay/transfer the tax to the state, you
will have something like
2023-04-30 * "Paying VAT"
Assets:Current -200 EUR
Liabilities:Tax:VAT 200 EUR
Regards,
Patrick
On 22.01.2023 20:06, RJ wrote:
Hi,
I'm starting to use beancount for my small business and I have some
questions. Reading the beancount docs only got me so far, so I would
like to hear whether I'm heading in the right direction.
Suppose I send an invoice to a client for a service I delivered to
Customer X, I guess I would post it like this:
2023-03-2 * Invoice 2023_1 Things I did for you ^invoice_2023_1
Liabilities:Customers:X 1000.00 EUR
Income:Invoices -800.00 EUR
Liabilities:Tax:VAT -200
20% VAT is included in the invoice.
I'm struggling a bit here with the Assets vs. Liabilities and the
signs here, should the customer account be an asset or a liability?
And then, when I receive the money from the customer I guess I would do:
2023-04-02 * Payment for invoice 2023_1 ^invoice_2023_1
Liabilities:Customers:X -1000.00 EUR
Assets:Current 800
Assets:Current:VATReserve 200
I like to reserve the money for the taxes in a subaccount, does that
make sense? Is there a better way to do that with beancount?
TIA
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