Having just switched from Gnucash to beancount I thought I may as well
record my salary properly from the payslips I keep stashed around.
My previous method was just to record the final amount I received in my
bank account (all deductions already done), and when tax time came to just
cross check the EA form (local name, basically a list of compensation and
mandatory/voluntary contributions made in relation to my employment in a
tax year) my employers gave me with the 13+ payslips I'd received in that
tax year (including bonus/supplementary jobs).
This ignored my own (and my employer's) contributions to what we call the
EPF and Socso accounts (I think they're fairly analogous to 401k accounts
in the US, mandatory contribution defined-contribution retirement savings
programmes). I receive an annual report of the amounts in that account but
just store those because I can't touch it for decades yet anyway.
The more correct way which I want to do starting this financial year is to
record my actual salary (rather than the amount which arrives in my bank
account) and contra correctly with all amounts. Here's how things look like
in my transaction now, copied exactly from my payslip:-
2017-01-01 * "" "January Salary"
Assets:Banking:MyBank:SavingsAccount A MYR
Income:Salary -B MYR
Expenses:Tax:Y2017 C MYR
Assets:EPF D MYR
Assets:Socso E MYR
Income:EmployerContribution:EPF -F MYR
Income:EmployerContribution:Socso -G MYR
Assets:EPF F MYR
Assets:Socso G MYR
Note that my EPF/Socso Assets account appears twice. This is because the
law mandates that I make a contribution (first two appearances), and that
my employer makes a contribution (last two appearances).
This doesn't seem to raise any errors, but double-contribution to a single
account seems slightly odd to me. Will I face any problems recording my
salary in this manner?
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