Re: [GNC] GNUCash - Total Assets <> Total Liabilities + Equity

2022-12-28 Thread Sebastian Naumann

Hi Derek,

I think I found the issue in the GnuCash Documentation. I did not use 
trading accounts (could kick myself in the butt).


I now enabled them. Is there a way to instruct GnuCash to retroactively 
run the Trading Splits?


Thanks a lot.

Am 12/28/22 um 17:25 schrieb Derek Atkins:

Hi,

I don't see any "snip" so not sure what you are referring to...
But yes, my guess is yes, it's an exchange-rate issue and not accounting
for the change in value from Time_0 to Time_1 when you have a
cross-currency transaction.
My first guess would be what the exchange rate was on the 1000€ on the
date you created the transaction, and see if that helps answer the
discrepancy.
The other places to look would be exchange rate differences at any other
exchanges.
Good Luck,
-derek

On Wed, December 28, 2022 4:53 pm, Sebastian Naumann wrote:

Hi everyone,

I have a small issue here arising, from what I believe, the Exchange
rates.

Background:

   * The entity I am working on received a Loan in EUR and decided to set
 their Common Stock Capital to 1000 EUR instead of 1000 USD.
   * The entity operated for one year only and will be closed as of
 12/31/2022
   * All outstanding loans were already reclassed (as part of closing the
 accounts) to other Income as "Cancellation of Debt Income". This is
 approved by the CPA.

The situation at this point:

   * *All Invoices and bills have been paid in full!!!*
   * *Trial Balance is good -> Debits = Credits
 *
   * I closed out all the accounts, including the Bank Account which was
 closed yesterday -> Hence there are $0.00 Assets.
   * On the other side of the Balance Sheet, we only have
   o the Common Stock for 1000 EUR, which is converted to 1062.15 USD
 as of the latest exchange rate used -> *SO FAR SO GOOD.*
   o The Retained Earnings, which are the loss for the current year
 -> *All good here too*.
   o "*Unrealized Losses"* of $116.52, which, from a logical
 standpoint can only come from the FX Adjustment on Common Stock
 (see snip below)
   o Equity + Liabilites is now $21.55 vs Total Assets of $0.00

However, how come this does not balance? Anyone have this issue before?

Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*



*MERCATORZ INTERNATIONAL GmbH & Co. KG*
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Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*



*MERCATORZ INTERNATIONAL GmbH & Co. KG*
Klingholzstr. 7
65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
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Sitz: DE-65189 Wiesbaden
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/Vertraulichkeits

[GNC] GNUCash - Total Assets <> Total Liabilities + Equity

2022-12-28 Thread Sebastian Naumann

Hi everyone,

I have a small issue here arising, from what I believe, the Exchange rates.

Background:

 * The entity I am working on received a Loan in EUR and decided to set
   their Common Stock Capital to 1000 EUR instead of 1000 USD.
 * The entity operated for one year only and will be closed as of
   12/31/2022
 * All outstanding loans were already reclassed (as part of closing the
   accounts) to other Income as "Cancellation of Debt Income". This is
   approved by the CPA.

The situation at this point:

 * *All Invoices and bills have been paid in full!!!*
 * *Trial Balance is good -> Debits = Credits
   *
 * I closed out all the accounts, including the Bank Account which was
   closed yesterday -> Hence there are $0.00 Assets.
 * On the other side of the Balance Sheet, we only have
 o the Common Stock for 1000 EUR, which is converted to 1062.15 USD
   as of the latest exchange rate used -> *SO FAR SO GOOD.*
 o The Retained Earnings, which are the loss for the current year
   -> *All good here too*.
 o "*Unrealized Losses"* of $116.52, which, from a logical
   standpoint can only come from the FX Adjustment on Common Stock
   (see snip below)
 o Equity + Liabilites is now $21.55 vs Total Assets of $0.00

However, how come this does not balance? Anyone have this issue before?

Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*



*MERCATORZ INTERNATIONAL GmbH & Co. KG*
Klingholzstr. 7
65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
E-Mail: naum...@mercatorz.com
PGP Fingerprint: DBCF ED37 6B00 25DE C469 5E0B E6B0 15C4 E292 430E
Tel. (direkt): +49 (0) 611 95 00 96-11
Tel.: +49 (0) 611 95 00 96-00

*Buchen Sie Ihr Erstgespräch 
<https://outlook.office365.com/owa/calendar/kundenterm...@mercatorz.com/bookings/>*


Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRA 11324

Vertreten durch: MERCATORZ Verwaltungs GmbH
Geschäftsführer: Michael Kempe
Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRB 32973

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Re: [GNC] Automatic sales tax

2022-02-28 Thread Sebastian Naumann

Hi Michael,

for sure, you are right.

If it's not an internet sale, then the purchase was made at the seller's 
location (i.e. where the item exchanged hands) so the seller charges the 
rate at their location.


Have a great day everyone.

Am 2/28/22 um 3:34 PM schrieb Michael or Penny Novack:

On 2/28/2022 2:50 AM, Sebastian Naumann wrote:

Hi John,

sorry, but I tend to disagree with your statement that "[...] most 
states consider the location of the seller to be the nexus...". 
Actually the second part of the statement is correct: Most states are 
destination based, meaning the location of the buyer is relevant. 
There you will have to keep in mind the economic nexus thresholds as 
well, meaning if you have x transactions / $x of Gross sales per a 
certain period in the destination state, you will have to register 
there.


Have a great day and please correct me here if you believe that I am 
wrong.


I think that is perhaps confusion more than right/wrong.

In remote sales (internet, etc.)  it is the location of the buyer.

But if not a remote sale, if person living in state A buys something 
at a seller in state B (and state B has sales tax) collected based on 
that. Now the buyer might still owe sales tax to state A when bringing 
the whatever home. When they pay that on their state return, they can 
claim credit for the sales tax (if any) already paid for that thing to 
state B.


Living as I do in a state which has sales tax and has a neighboring 
state that does not, I am of course very familiar with this. People 
living in my state A close to the border often intentionally shop in 
state B, especially for small things they can get away with not 
reporting. It is also why state A has a special way of checking that 
sales tax is paid on big ticket items like vehicles (proof of sales 
tax needed for registering the vehicle).


Michael  Novack


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Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*



*MERCATORZ INTERNATIONAL GmbH & Co. KG*
Klingholzstr. 7
65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
E-Mail: naum...@mercatorz.com
PGP Fingerprint: DBCF ED37 6B00 25DE C469 5E0B E6B0 15C4 E292 430E
Tel. (direkt): +49 (0) 611 95 00 96-11
Tel.: +49 (0) 611 95 00 96-00

Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRA 11324

Vertreten durch: MERCATORZ Verwaltungs GmbH
Geschäftsführer: Michael Kempe, Thorsten Wedemann
Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRB 32973

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Re: [GNC] Automatic sales tax

2022-02-27 Thread Sebastian Naumann

Hi John,

sorry, but I tend to disagree with your statement that "[...] most 
states consider the location of the seller to be the nexus...". Actually 
the second part of the statement is correct: Most states are destination 
based, meaning the location of the buyer is relevant. There you will 
have to keep in mind the economic nexus thresholds as well, meaning if 
you have x transactions / $x of Gross sales per a certain period in the 
destination state, you will have to register there.


Have a great day and please correct me here if you believe that I am wrong.

Am 2/22/22 um 9:58 PM schrieb John Layman:

A further complication in calculating sales tax is that there is no uniform law 
regarding nexus.  Whereas most states consider the location of the seller to be 
the nexus, there are others where the nexus is that of the buyer!  In Florida, 
a seller in Okeechobee shipping an alligator skin wallet to a buyer in 
Pensacola is supposed to charge sales tax at the rate of the buyer's location 
600 miles away.  And, if the purchase was made from an online store whose owner 
was in Baton Rouge, same thing.   Sales tax is one reason there is a difference 
between point-of-sale systems and accounting packages.



-Original Message-
From: gnucash-user  On 
Behalf Of Adrien Monteleone
Sent: Monday, February 21, 2022 12:45 PM
To:gnucash-u...@lists.gnucash.org
Subject: Re: [GNC] Automatic sales tax

Yeah, without a receipt in hand (or electronic) showing the breakout, no 
software can assume or guess reliably. That is just insane.

In my state, you can have one location in one jurisdiction depending on what 
side of the street it is on, and the two properties to the left and right can 
each be in other separate districts. And then, you have to take into account 
purchasing location vs. delivery, and then the type of item or service.

That is impossible for any software, paid for or not, to 'guess' based merely 
on a description containing a business name.

Even if you pre-specified what each business you buy from charges, you might 
end up getting it wrong. (my grocery receipt for example charges one rate for 
food 'for home consumption' and another for everything else, and those 
subtotals of course vary from purchase to purchase)

And that doesn't even scratch 'tax holidays'! (or that local rates can change 4 
times a year!)

Regards,
Adrien

On 2/21/22 9:00 AM, Michael or Penny Novack wrote:

On 2/20/2022 7:58 PM, David Carlson wrote:

Here in Illinois it varies by county, city, merchandise category,
service category, seller category and sometimes by such arcane
variables as library district (well, that last one may be a slight
exaggeration).

And not only is it that complex, but the DATA (what IS the
jurisdiction that applies) is typically not available. Almost always
the information by the vendor, just the postal address.

For example, while my town (township) does indeed have a PO with zip
code 01338 that post office delivers no mail (just for PO boxes inside
that post office). On the other hand, four different post office with
zip codes 01330, 01339, 01340, and 01370 do deliver mail to addresses
located in my town. So EVERY street address in my town has some other
town in the address << well one of those isn't a "town" but a village
on the boundary of two towns (townships) >>

There was a period during which when writing a letter to my
Congressman I had to make it very clear, "Yes, I AM a constituent
living in your district in spite of appearances" (the "town" on my
address was outside his district)

And I can think of a merchandise category/seller category tax
difference in my state. Buy a pair of gloves (clothing, not taxed) in
a clothing store/department store vs buy the SAME pair of gloves
(protective gear,
taxed) in a hardware store.

BTW --- usually responsibility for figuring sales tax is in the POS
system, not the accounting package being fed by POS (POS would also
interact with the Inventory system). The accounting package is just
one part of an "integrated business system".

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Re: [GNC] Automatic sales tax << slightly off topic (but mail related) >>

2022-02-22 Thread Sebastian Naumann

Hi everyone,

if you need info / help with Sales Tax, I would be more than happy to 
help. This is actually what my company does. Even though we mainly deal 
with Online Retailers that generate Nexus thru the Inventory in the 
amazon warehouses across the country, we can certainly help answering 
any questions that arise.


Have a great day.

Am 2/22/22 um 3:08 AM schrieb Stephen M. Butler:

On 2/21/22 10:52, Michael or Penny Novack wrote:

On 2/21/2022 1:09 PM, Stephen M. Butler wrote:

Here in Washington state the state does post an address file to 
assigns rate codes by address.  In at least one case two houses with 
the same zip+4 are in different location codes.  Most web hosts POS 
systems can only go down to the zip code level.  Thankfully I don't 
have enough sales outside the state to worry about taxes in the 
other states!


--Steve  (www.hamflags.com)


Do you know how they get the mail to the folks who live on Pt Roberts?

For those who don't know this, there are two little bits of the US 
(lower 48) that though not islands have no land connection to the US 
and this is one of them. Have to go through Canada. I guess since 
Puget Sound doesn't freeze they could use boats. Northwest Angle (MN) 
is the other and during the time Lake of the Woods is neither open 
nor frozen solid, boats would be out.


The only time I ever discussed this with PO "experts" they said they 
couldn't imagine sent in sealed bags through Canada << I didn't tell 
then that once upon a time Canada  had that sort of arrangement with 
us for mail to the Yukon -- Before the highway, the only way in was 
the railroad from Skagway Alaska to Whitehorse and mail came up from 
Vancouver by ship and then the railroad over the pass back into 
Canada. So why not reciprocal arrangements >>


Michael D Novack



According to an Internet search it appears they send mail via boat 
to/from Seattle.  Mail sent from Pt Roberts is post-marked Seattle. I 
presume incoming mail is sent out from Seattle by boat.


You're right, Puget Sound does not freeze -- but there are days that 
it feels that way!


--Steve


Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*



*MERCATORZ INTERNATIONAL GmbH & Co. KG*
Klingholzstr. 7
65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
E-Mail: naum...@mercatorz.com
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Sitz: DE-65189 Wiesbaden
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Vertreten durch: MERCATORZ Verwaltungs GmbH
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Re: [GNC] eBay Managed Payment

2022-01-17 Thread Sebastian Naumann

Hi Dale,

I know with xero A2X works pretty well for either marketplace (AMZ / 
Shopify / eBay).


And I believe, instead of posting the statements directly to the 
actually bookkeeping software, you might be able to generate CSVs.


These are my two cents for it...hope this help.

Am 1/12/22 um 10:04 PM schrieb Dale Holden:

Helo Guys

I am new on here and just trying to move from Xero Accounts.
I was wondering if any members on here use GC for eBay Managed Payments?
Id so i would like to have a quick chat if possible

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Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*


*MERCATORZ INTERNATIONAL GmbH & Co. KG*
Klingholzstr. 7
65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
E-Mail: naum...@mercatorz.com
PGP Fingerprint: DBCF ED37 6B00 25DE C469 5E0B E6B0 15C4 E292 430E
Tel. (direkt): +49 (0) 611 95 00 96-11
Tel.: +49 (0) 611 95 00 96-00

Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRA 11324

Vertreten durch: MERCATORZ Verwaltungs GmbH
Geschäftsführer: Michael Kempe, Thorsten Wedemann
Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRB 32973

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Re: [GNC] Cannot select A/P Account to post Bill to

2021-12-30 Thread Sebastian Naumann

Hi Mattia,

thanks for the quick response.

And of course you're right. I had classified it as a "Liability", which, 
in my opinion, might be setup a little confusing.


Thanks a lot :)

Am 12/30/21 um 9:38 PM schrieb Mattia Rizzolo:

On Thu, Dec 30, 2021 at 05:59:47PM +0100, Sebastian Naumann wrote:

I wanted to test out GnuCash, including posting a bill.

Unfortunately, I am unable to select an A/P Account to post the bill to. The
dropdown in the post modal is simply blank.

If I try creating a new account via the "NEW" button, everything works fine
and the account shows up in the dropdown, allowing me to post the bill.

In my experience, that's usually a sign that the A/P account is not
actually of "type" A/P.
Try clicking "edit account" and check the "account type" section.  If
it's not of type "A/Payable" then you'll need to create a new account and
select the correct type (for some reason it seems impossible to change
an existing account to be of A/P type, at least here it seems to be
restricted as a valid option only during account creation).


Also, I want to wish everyone a great start into the New Year.

Happy new year to you too! :)


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Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*


*MERCATORZ INTERNATIONAL GmbH & Co. KG*
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65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
E-Mail: naum...@mercatorz.com
Tel. (direkt): +49 (0) 611 95 00 96-11

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Vertreten durch: MERCATORZ Verwaltungs GmbH
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[GNC] Cannot select A/P Account to post Bill to

2021-12-30 Thread Sebastian Naumann

Hi GnuCash Community,

hopefully all are well.

I wanted to test out GnuCash, including posting a bill.

Unfortunately, I am unable to select an A/P Account to post the bill to. 
The dropdown in the post modal is simply blank.


If I try creating a new account via the "NEW" button, everything works 
fine and the account shows up in the dropdown, allowing me to post the bill.


Since I do not want to create a new account every time :), your help 
would be greatly appreciated.


Also, I want to wish everyone a great start into the New Year.

Mit freundlichen Grüßen

Sebastian Naumann
*US Compliance Manager*


*MERCATORZ INTERNATIONAL GmbH & Co. KG*
Klingholzstr. 7
65189 Wiesbaden

Web: www.mercatorz.com <https://www.mercatorz.com>
E-Mail: naum...@mercatorz.com
Tel. (direkt): +49 (0) 611 95 00 96-11

Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRA 11324

Vertreten durch: MERCATORZ Verwaltungs GmbH
Geschäftsführer: Michael Kempe, Thorsten Wedemann
Sitz: DE-65189 Wiesbaden
Handelsregister: Amtsgericht Wiesbaden, HRB 32973

/Vertraulichkeitserklärung / Legal Notice
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unverzüglich den Absender und vernichten Sie diese E-Mail. Das 
unerlaubte Kopieren oder Offenlegen sowie die unbefugte Weitergabe 
dieser E-Mail ist nicht gestattet.


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not the intended recipient or have received this e-mail in error please 
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Schützen Sie den Wald und die Umwelt! Bitte drucken Sie diese E-Mail nur 
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