Split transaction and figure 4.1 in the guide

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Split transaction and figure 4.1 in the guide

Denis-2
With the help of figure 4.1, is there somewhere in the accounts or
reports  where the "Before tax" will or could show on a day to day
base and also, for example, show the total annual amount
"Before tax" ?

I have an account entitled "Before tax" in the Revenues but the total
obviously stays to zero since Gnucash uses the "After tax" account.

Any comments on this "Before tax" in figure 4.1 and this amount of
$670 ?  That would also help clear my mind a bit more on the way
Gnucash works ?

Den

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Re: Split transaction and figure 4.1 in the guide

Wm...
Sun, 19 Jul 2015 16:20:57 <[hidden email]>
Denis <[hidden email]> wrote...

>With the help of figure 4.1, is there somewhere in the accounts or
>reports  where the "Before tax" will or could show on a day to day
>base and also, for example, show the total annual amount
>"Before tax" ?
>
>I have an account entitled "Before tax" in the Revenues but the total
>obviously stays to zero since Gnucash uses the "After tax" account.
>
>Any comments on this "Before tax" in figure 4.1 and this amount of
>$670 ?  That would also help clear my mind a bit more on the way
>Gnucash works ?

If you are in France you should *not* be using US Tax "features".  Even
the Americans complain about them and refuse to use them unless things
are very simple!

--
Wm...

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Re: Split transaction and figure 4.1 in the guide

Tommy Trussell
In reply to this post by Denis-2
On Sun, Jul 19, 2015 at 3:20 PM, Denis <[hidden email]> wrote:

> With the help of figure 4.1, is there somewhere in the accounts or
> reports  where the "Before tax" will or could show on a day to day
> base and also, for example, show the total annual amount
> "Before tax" ?
>
> I have an account entitled "Before tax" in the Revenues but the total
> obviously stays to zero since Gnucash uses the "After tax" account.
>
> Any comments on this "Before tax" in figure 4.1 and this amount of
> $670 ?  That would also help clear my mind a bit more on the way
> Gnucash works ?
>

Just to be absolutely clear, I am looking at Figure 4.1 on this page:
http://www.gnucash.org/docs/v2.6/C/gnucash-guide/txns-registers1.html

[image: Account Register - Split Transaction]

In this case, the "Before Tax" annotation indicates the $1000 going into
Income:Salary, and the other lines show the amounts "split" from that
amount. The other amounts go into various taxes and into your bank account.
In the example, $60, $90, and $180 dollars go into tax accounts, and the
$670 is the amount that goes into your checking account. In other words,
the company pays your salary of $1000, but the $670 is what you receive
"after taxes" are deducted. (All of the amounts MUST "balance," and if they
do not GnuCash will create a line to balance the splits.) In this case, $60
+ $90 + $180 + $670 = $1000 so everything balances.

You asked where you could see these things. When you look in the registers
for Income:Salary or Expenses:Taxes:Federal you can see the total amounts
accumulated for each of these accounts since you began using GnuCash OR
since you optionally "closed the books" on those accounts. When you
generate an income statement, you will see the Income:Salary account
accumulating for however many payments you have received for the period of
the report. If this transaction represents a weekly paycheck, then the
total for Income:Salary for a whole year would be $52,000. ($1000 times 52
weeks.) The total in your checking account would be $670 times 52 weeks
($34,840) minus the amounts of all the checks and other deductions from
your account during those 52 weeks, plus any additional deposits and
transfers in.

I hope that explanation makes it clearer. If you have further questions
PLEASE copy them to the list.


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Re: Split transaction and figure 4.1 in the guide

Denis-2
In reply to this post by Wm...
On Sun, 19 Jul 2015 23:54:47 +0100, "Wm..."
<[hidden email]> wrote:

I'm in Canada...
Den

>Sun, 19 Jul 2015 16:20:57 <[hidden email]>
>Denis <[hidden email]> wrote...
>
>>With the help of figure 4.1, is there somewhere in the accounts or
>>reports  where the "Before tax" will or could show on a day to day
>>base and also, for example, show the total annual amount
>>"Before tax" ?
....CUT

>
>If you are in France you should *not* be using US Tax "features".  Even
>the Americans complain about them and refuse to use them unless things
>are very simple!

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Re: Split transaction and figure 4.1 in the guide

Denis-2
In reply to this post by Tommy Trussell
On Sun, 19 Jul 2015 21:57:14 -0500, Tommy Trussell
<[hidden email]> wrote:

I was hoping for some kind of "dummy account" that would not interfere
with Gnucast regular accounts and where all the amounts of those
"Before tax" would accumulate. It was only something I was hopping
for.

Even if this is not possible Gnucast is still the best software I
found after fifteen year of Quicken.

Den



>On Sun, Jul 19, 2015 at 3:20 PM, Denis <[hidden email]> wrote:
>
>> With the help of figure 4.1, is there somewhere in the accounts or
>> reports  where the "Before tax" will or could show on a day to day
>> base and also, for example, show the total annual amount
>> "Before tax" ?
>>
>> I have an account entitled "Before tax" in the Revenues but the total
>> obviously stays to zero since Gnucash uses the "After tax" account.
>>
>> Any comments on this "Before tax" in figure 4.1 and this amount of
>> $670 ?  That would also help clear my mind a bit more on the way
>> Gnucash works ?
>>
>
>Just to be absolutely clear, I am looking at Figure 4.1 on this page:
>http://www.gnucash.org/docs/v2.6/C/gnucash-guide/txns-registers1.html
>
>[image: Account Register - Split Transaction]
>
>In this case, the "Before Tax" annotation indicates the $1000 going into
>Income:Salary, and the other lines show the amounts "split" from that
>amount. The other amounts go into various taxes and into your bank account.
>In the example, $60, $90, and $180 dollars go into tax accounts, and the
>$670 is the amount that goes into your checking account. In other words,
>the company pays your salary of $1000, but the $670 is what you receive
>"after taxes" are deducted. (All of the amounts MUST "balance," and if they
>do not GnuCash will create a line to balance the splits.) In this case, $60
>+ $90 + $180 + $670 = $1000 so everything balances.
>
>You asked where you could see these things. When you look in the registers
>for Income:Salary or Expenses:Taxes:Federal you can see the total amounts
>accumulated for each of these accounts since you began using GnuCash OR
>since you optionally "closed the books" on those accounts. When you
>generate an income statement, you will see the Income:Salary account
>accumulating for however many payments you have received for the period of
>the report. If this transaction represents a weekly paycheck, then the
>total for Income:Salary for a whole year would be $52,000. ($1000 times 52
>weeks.) The total in your checking account would be $670 times 52 weeks
>($34,840) minus the amounts of all the checks and other deductions from
>your account during those 52 weeks, plus any additional deposits and
>transfers in.
>
>I hope that explanation makes it clearer. If you have further questions
>PLEASE copy them to the list.
>
>
>> -----
>> 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
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>-----
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>You can do this by using Reply-To-List or Reply-All.

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Re: Split transaction and figure 4.1 in the guide

Mike or Penny Novack-2
I was hoping for some kind of "dummy account" that would not interfere
with Gnucash regular accounts and where all the amounts of those "Before
tax" would accumulate. It was only something I was hopping for. Even if
this is not possible Gnucash is still the best software I found after
fifteen year of Quicken. Den

There are few limitations imposed by gnucash. "Dummy accounts" are
certainly possible. But USUALLY what people are asking for is to have
the effect of these dummy accounts without the addition of steps to
their work flow. If you are willing to do the extra work (when entering
transactions) there is very little you can't have.

Michael D Novack
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Re: Split transaction and figure 4.1 in the guide

Tommy Trussell
In reply to this post by Denis-2
[I reordered the thread so I could bottom-post. see my reply at the end.]

>On Sun, Jul 19, 2015 at 3:20 PM, Denis <[hidden email]> wrote:
>
>> With the help of figure 4.1, is there somewhere in the accounts or
>> reports  where the "Before tax" will or could show on a day to day
>> base and also, for example, show the total annual amount
>> "Before tax" ?
>>
>> I have an account entitled "Before tax" in the Revenues but the total
>> obviously stays to zero since Gnucash uses the "After tax" account.
>>
>> Any comments on this "Before tax" in figure 4.1 and this amount of
>> $670 ?  That would also help clear my mind a bit more on the way
>> Gnucash works ?
>>
>
>Just to be absolutely clear, I am looking at Figure 4.1 on this page:
>http://www.gnucash.org/docs/v2.6/C/gnucash-guide/txns-registers1.html
>
>[image: Account Register - Split Transaction]
>
>In this case, the "Before Tax" annotation indicates the $1000 going into
>Income:Salary, and the other lines show the amounts "split" from that
>amount. The other amounts go into various taxes and into your bank account.
>In the example, $60, $90, and $180 dollars go into tax accounts, and the
>$670 is the amount that goes into your checking account. In other words,
>the company pays your salary of $1000, but the $670 is what you receive
>"after taxes" are deducted. (All of the amounts MUST "balance," and if they
>do not GnuCash will create a line to balance the splits.) In this case, $60
>+ $90 + $180 + $670 = $1000 so everything balances.
>
>You asked where you could see these things. When you look in the registers
>for Income:Salary or Expenses:Taxes:Federal you can see the total amounts
>accumulated for each of these accounts since you began using GnuCash OR
>since you optionally "closed the books" on those accounts. When you
>generate an income statement, you will see the Income:Salary account
>accumulating for however many payments you have received for the period of
>the report. If this transaction represents a weekly paycheck, then the
>total for Income:Salary for a whole year would be $52,000. ($1000 times 52
>weeks.) The total in your checking account would be $670 times 52 weeks
>($34,840) minus the amounts of all the checks and other deductions from
>your account during those 52 weeks, plus any additional deposits and
>transfers in.
>

On Mon, Jul 20, 2015 at 7:56 AM, Denis <[hidden email]> wrote:

>
> I was hoping for some kind of "dummy account" that would not interfere
> with Gnucast regular accounts and where all the amounts of those
> "Before tax" would accumulate. It was only something I was hopping
> for.
>
> Even if this is not possible Gnucast is still the best software I
> found after fifteen year of Quicken.
>
> Den
>

I recommend you spend a few minutes entering the transactions *as if* you
had accumulated a few months of them -- I don't really understand why you
need "dummy accounts" when it sounds like the ACTUAL accounts will contain
the information you're looking for.

ALSO I would like to point out that even though the example accounts
resemble something "regular," there's nothing special about them, except
they match the documentation. You can rename or reorder the accounts to
suit you, even after you have been using them for awhile. GnuCash can
automatically create a fresh set of accounts for you, but it's only to help
you get started.

Go ahead... go crazy! Try some of the examples in the documentation, and
enter some more data to see what happens with the totals and the reports.
THEN when you're more comfortable, create a new set of accounts from
scratch that match your actual situation.
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Re: Split transaction and figure 4.1 in the guide

Wm...
In reply to this post by Denis-2
Mon, 20 Jul 2015 08:56:57 <[hidden email]>
Denis <[hidden email]> wrote...

>On Sun, 19 Jul 2015 21:57:14 -0500, Tommy Trussell
><[hidden email]> wrote:
>
>I was hoping for some kind of "dummy account" that would not interfere
>with Gnucast regular accounts and where all the amounts of those
>"Before tax" would accumulate. It was only something I was hopping
>for.
>
>Even if this is not possible Gnucast is still the best software I
>found after fifteen year of Quicken.

Ummm, All, I'm wondering if Denis should have been told about Save As
and this is a language breach.

--
Wm...

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