As long as your accountant is happy with it. On Wed, 1 Apr 2020, 7:14 pm JV, <jal...@hotmail.com> wrote:
> Thankyou! I obviously have a lot to learn about accounting still! I'll > have a play with this to see if it fixes my issues. It seems to from a > quick test data file I created. On your other point, under Equity I > created an account structure as follows: > > Equity > Owner's equity > Owner's deposits > Owner's withdrawals > > to try and capture the fact that I've been using personal money injections > to make purchases while I'm starting up my business. So the screenshot I > sent through shows me using personal money to pay for a cellphone charge. > Is there a better way of accounting to capture this? > > On 1/04/20 11:41 pm, Christopher Lam wrote: > > Bingo. Everything is wrong about it :) You should probably input this > purchase from the bank account or credit card that you used to pay for it. > It should be similar to: > > [image: image.png] > > > On Wed, 1 Apr 2020 at 10:30, JV <jal...@hotmail.com> wrote: > >> I've attached a screenshot which shows the purchase data of a typical >> expense entry. Please let me know if I've entered the data in the wrong >> columns. >> >> On 1/04/20 11:06 pm, Christopher Lam wrote: >> >> Please remember to cc the mailing list for all replies. >> >> Now we've established you are on credit-accounts, the amounts showing >> negative means you have likely entered the GST on Purchase data incorrectly. >> >> On Wed, 1 Apr 2020 at 09:58, JV <jal...@hotmail.com> wrote: >> >>> Thanks for your help. I wasn't aware of the >>> Preferences>Accounts>Reverse Balanced Accounts feature but you're right - >>> that was my setting. I still don't understand why GNUCash is handling the >>> values the way it is. I've pretty much got the structure you suggested: >>> >>> GST [Liability] >>> GST:Collected on Sales [Liability] >>> GST:Paid on Purchases [Asset] >>> GST:Paid to IRD [Asset] >>> >>> Except that I figure that the GST I've paid to the tax department (IRD) >>> so far should be an asset (please correct me if I'm wrong). But for some >>> reason whatever I change the account type to for these values (liability or >>> asset), it doesn't seem to affect the top-level account sum total at all. >>> >>> On 1/04/20 10:31 pm, Christopher Lam wrote: >>> >>> Hi >>> >>> (Screenshot containing private data snipped) >>> >>> The first rule here is that support emails are always public because >>> others may want to help. >>> >>> It seems you have set the Preferences > Accounts > Reverse Balanced >>> accounts to 'Credit accounts' which is fine. >>> >>> It also seems that the GST Paid and GST Returns filed are negative -- >>> depending on the preference above, this may be fine; but the parent account >>> adding the values as described would suggest that they may be incorrect >>> account type. >>> >>> It seems your GST Sales > GST Purchases, so, I'd suggest the following >>> structure, with top-level GST account: >>> >>> GST [Liability] >>> GST:Collected on Sales [Liability] >>> GST:Paid on Purchases [Asset] >>> GST:Paid to IRD [Liability] >>> >>> Thus all values would usually be positive with 'credit accounts' >>> reversal option. >>> >>> You can also try the "Income & GST Statement" report to assist with your >>> periodic filing. >>> >>> On Wed, 1 Apr 2020 at 09:02, JV <jal...@hotmail.com> wrote: >>> >>>> That would be great! Sorry, I'm also new to these support mailing >>>> lists >>>> so please let me know if I'm meant to be looking for support elsewhere >>>> or in a different format. >>>> >>>> I've attached a screenshot to give you some insight. I don't >>>> understand >>>> why it's adding up the absolute values of the GST figures rather than >>>> giving the assets (GST paid & GST returns filed) a positive value and >>>> liabilities (GST collected) a negative value. The 'GST payable to IRD' >>>> in my mind should be GST collected minus GST paid minus GST returns >>>> filed. Thanks for much for your help - it's starting to do my head in! >>>> >>>> On 1/04/20 9:45 pm, Christopher Lam wrote: >>>> > Maybe you can share your account structure or a data file with sample >>>> data, >>>> > and we can try make it work? The documentation is still behind the >>>> > reporting capability. >>>> > >>>> > On Wed, 1 Apr 2020, 4:08 pm Jacob Verbeek, < >>>> jacobv.consulta...@gmail.com> >>>> > wrote: >>>> > >>>> >> Hi, >>>> >> I'm a new user of GNUCash for my fledgling consulting business. I >>>> love >>>> >> the program but can just not get GST to work the way I want to (New >>>> >> Zealand). I've read all the documentation I can find on it. I've >>>> gone >>>> >> with the 3-account system but GNUCash seems to just add up the >>>> absolute >>>> >> value of the numbers I enter into each category, disregarding whether >>>> >> they have a positive or negative value; changing the account type to >>>> >> asset/liability doesn't seem to make any difference. It's probably >>>> >> something really simple and dumb but I just can't seem to fix it. >>>> How >>>> >> do I go about getting some support to resolve this issue? >>>> >> >>>> >> Much appreciated, >>>> >> >>>> >> JACOB >>>> >> >>>> >> 022 0264943 >>>> >> jacobv.consulta...@gmail.comm >>>> >> www.about.me/jacobverbeek >>>> >> >>>> >> _______________________________________________ >>>> >> gnucash-user mailing list >>>> >> gnucash-user@gnucash.org >>>> >> To update your subscription preferences or to unsubscribe: >>>> >> https://lists.gnucash.org/mailman/listinfo/gnucash-user >>>> >> If you are using Nabble or Gmane, please see >>>> >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >>>> >> ----- >>>> >> Please remember to CC this list on all your replies. >>>> >> You can do this by using Reply-To-List or Reply-All. >>>> >> >>>> > _______________________________________________ >>>> > gnucash-user mailing list >>>> > gnucash-user@gnucash.org >>>> > To update your subscription preferences or to unsubscribe: >>>> > https://lists.gnucash.org/mailman/listinfo/gnucash-user >>>> > If you are using Nabble or Gmane, please see >>>> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >>>> > ----- >>>> > Please remember to CC this list on all your replies. >>>> > You can do this by using Reply-To-List or Reply-All. >>>> >>>> >>> >> >
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