Cam,
I have been giving a bit of thought to the way one might account properly
for Retirement funds. I am not sure how your CRA asks for information about
income from your RRIFs. In Australia, I have specific questions in the tax
return dialog at which I have to record the income from such funds
Larry
If your withdrawals from the RRSP are taxable on withdrawal then I think
your approach of using two files recording transfers to your bank account
from the RRSP as Expenses in the RRSP account and Income in your main
accounts should work fine as it will satisfy the accounting equation in
Larry,
I'm not familiar with the details of RRSP accounts in Canada so any comments
here are general in nature and not taken as accounting advice per se.
If it is a retirement savings account you would treat it as an Asset.
Depending upon the conditions associated with withdrawal of funds from
The short answer is yes. but the following articles may give you some
insights into how unrealized gains and losses are usually recorded and
reported. These article provides some info about treatment of unrealized
gains and losses on trading securities under the GAAP in the US
Hi Les,
The Linux Mint Software manager version is usually 1-2 releases behind the
latest release of Gnucash. getDeb is sometimes a bit more up to date.
Unless there are specific features/fixes in the latest release that you need
then 2.6.17 which is the current LM version should be OK.
If
I use the flatbed scanner on a Samsung SCX3405FW combined with the XSANE
Image Scanning Program to scan receipts with output as jpg without any major
difficulties on Linux. As others have noted at present there is no way to
link these into Gnucash at the moment. Main reason is to store receipts
Hi Adrien,
I am assuming here you mean when you are pre-billed by a supplier of a good
or service. What follows is not necessarily restricted to insurance or even
to prepayment but just uses these to illustrate the principle. If you mean
that you are pre-billing a client, my apologies and please
My bad John,
I replied to the wrong post.
David
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John,
That is exactly what the Opening Balance dialog actually does in Gnucash (it
creates those entries) and once the entries have been created they are
easily edited either from the Opening Balances register or from the register
for the account for which you set the opening balance, just as
Hi Adrien,
Add ressing this point:
"Pre-paid expenses are a special case, but I should think it possible to
address it with the business features somehow. I’ve thought of using special
clearing accounts but I can’t seem to figure where they might go. Posting a
bill for a pre-paid expense (but not
Hi Maf,
Just a slight clarification on what accrual accounting means.
The GAAP contains certain principles about when income is considered to be
earned and when expenses are considered to be incurred and when they are to
be recognized/recorded in the accounts. These are not necessarily
Christine,
I don't think the program itself is your problem. You will require some
fundamental knowledge of accounting procedures and theory no matter which
program you use. It is also a process of learning the jargonused in a
particular program's interface. I know of no accounting program which
Christine,
Gnucash is a double entry accounting system. What this means is that any
transaction affects at least two accounts. For example when you purchase
something your bank account is credited by the amount of the purchase any
purchase is also an expense so an expense account has to be
Kevin,
If you are entering an existing asset rather than a new paurchase the credit
entry should be to an Equity Account:Opening Balances rather than to a Cash
or bank account and the debit entry to thr Fixed asset account.
David Cousens
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David Cousens
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I think the accounting for bitcoin production would be similar to any other
manufacturing cost accounting although identifying the component costs may
be interesting. If you are running your own hardware to do it then that is
one cost, (depreciation, running costs etc) which will more than likely
The bank considers its loan to you as an asset, the fees and interest charges
to the loan account are income to the bank, so the offset account for the
bank for these transactions is an income account. These transactionsto the
asset :loan account of the bank will increase the value of their asset,
Hi Michael,
Point taken. I was really commenting specifically on the in package
capability of Gnucash to meet fellow_travellers's needs. It might be useful
to have a list of external software that does provide additional capability
to extend Gnucash somewhere on the wiki page.
One of the
Hi,
The facilities you are requesting are likely to require an inventory
management system. At present Gnucash is an accounting package and currently
does not incorporate any features for inventory management. As far as i know
there are no plans to incorporate such features in the near future. To
I am not sure how the cash flow report deals with credit cards/liabilities.
Even then a cash flow statement can only deal with already recorded
transactions as you have indicated with your phantom transactions. Where a
cash flow report is really useful is in looking at seasonal variations from
Congratulations to John and the rest of the team.
Builds and installs and runs nicely on Linux Mint 18.2 and installs and runs
on Windows 10 on a TabProS.
-
David Cousens
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Hi Colin,
i agree with both you and Bram there. It is not a reliable backup of the
database but really only useful for sharing a database across several
machines and worked well for the use case where my laptop was generally
connected to my LAN and I worked away from home occasionally. haven't
Keith,
The use of debit and credit is usually a little bit confusing until you get
a handle on the basic mathematics behind double entry accounting. The actual
meaning of a debit (or credit) depends upon the type of account it is acting
upon. The whole basis of double entry accounting is based on
Hi George,
How you record these items will depend a great deal on the exact nature of
the item and the nature of the future benefit you receive from them.
In the case of a pension the future value may be different from simply the
paid in value of the contributions. Depending on the nature of
Robert,
Would the Credit Note facility not suit to record what essentially becomes a
reversal of part of an Invoice which would be included in the Customer
report? The discussion of the implementation is not all that clear in the
manual
Greg, Mike,
I have no problem accessing the gnucash export files in Dropbox from my
Android phone as I indicated in an earlier post.
Dropbox has a daemon which you have to download and install on Linux to sync
with the server. There is usually a version available via the Software
manager on
Hi Derek,
Thanks for the clarification re Nabble. I am very grateful to Nabble for
taking the mailing list on as I find it much easier to follow threads on
Nabble. My reference to "relationship" was really only about the ability to
access the mailing list from Nabble and not with respect to its
This thread gives some info on syncing data.
https://gnucash.uservoice.com/knowledgebase/articles/1120894-how-to-sync-data-from-gnucash-android-to-desktop
David Cousens
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David Cousens
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Hi Colin and John_Mike,
"Gnucash has no relationship with Nabble". This is not quite correct. As
well as replying to the mailing list emails from gnucash direct to your
email, the posts by email are also displayed in a Nabble version of the
Forum at
Macho,
>From an accounting perspective, the interest charge is not incurred until
the original invoice is overdue past the agreed date and should be recorded
as such at that time, while the original sale is recorded at the date at
which it occurred.
On this basis, I think it would be most
Hi Morris,
On Linux Mint 18.2 the help files are located in
/usr/share/docs/gnucash-docs. The display of the tutorial guide and manual
by Gnucash uses the gnome Yelp help browser. It may be this is not installed
in the raspberryPi Linux version.
The gift card is clearly an asset. When you receive it it is income. In most
jurisdictions one would expect gift income to be not taxable however this
may not always be the case.
I generally have income streams that are both taxable and non-taxable so I
already have placeholder subaccounts of
Hi Marc,
Don has answered your first question fairly completely. Whether you treat
payments you have made on behalf of the company as a loan or a contribution
to equity really depends on your intention to pay back the amounts and the
timescale on which you intend to do it.
If it ASAP (e.g. you
Hi Martijn,
Gnucash is capable of supporting both cash and accrual accounting. The
business features (accounts receivable and accounts payable) are explicitly
accrual accounting based however as they record the income at the time the
invoice is created normally on the date the service is
Hi
To my knowledge Gnucash does not have the ability to generate splits between
accounts for sharing expenses automatically. When you enter a transaction it
is usually in the register for the account you are drawing from. A default
account for the other split of the transaction is generally
Hi Michael,
This one takes accounting back to 7000BC and traces the major historical
developments from there forward to the GFC in 2010. It would appear that
writing may have developed from ancient accountants methods of keeping
counts of goods traded. The first cheques were written by Arab
This is a bit off topic but for anyone with a historical interest in
accounting "Double Entry" by Jane Gleeson-White (Allen & Unwin 2011) is an
interesting read.
David Cousens
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David Cousens
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Hi,
The most direct transaction to record this is:
Debit
Credit
Liability:DirectorsBusiness Expenses
Asset:LoansToDirector .
The most important thing is to
Hi Adrein,
I apologise if my comment appeared a bit flippant. The intention of my
comment about choosing any name was really that the actual name is less
important than the structural aspect of it being an asset account. The
general expectation would be that an investment in a business would
Ananda,
The last post in this archive from Whirlpool forums mentions having created
a PHP script to download OFX files . I doubt he was using the HBCI interface
but was simply using the standard Netbank interface and supplying the data
needed to get the banks website to download the OFX files.
Hi Eneko,
The full accounting equation is
Assets = Liabilities +Equity+(Income -Expenses) where Income and Expense
accounts are temporary Equity accounts which record the changes in equity
during the current accounting period (usually a financial year).
You can rewrite this as Equity = Assets -
Hi Buster,
Customer jobs are not meant to be the same as Vendor jobs at least according
to
the Gnucash Help manual entries which seem to indicate that they are
separate
https://www.gnucash.org/docs/v2.6/C/gnucash-help/busnss-ar-jobs1.html and
Anita
The Wiki has a secion discussing it at
https://wiki.gnucash.org/wiki/Closing_Books
and the documentation tells you how to use the built in routine for it at
https://www.gnucash.org/docs/v2.6/C/gnucash-help/tool-close-book.html
David Cousens
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To be useful the logfiles should be being written as each transaction is
recorded rather than only at the end of a session. In the latter case if a
crash/programming fault causes Gnucash to exit abnormally the log file would
contain no useful information. Autosave should only be working on the
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