Hello everyone, As always i want to thank Martin and all community for beancount, i am so glad that 3.5 years ago i've chosen beancount over other free (gnucash, etc) or paid (quickbooks, etc) alternatives. Extendability and flexibility of beancount are unmatched.
And as always i have couple questions :) Please help :) 1. I have single member llc (sole proprietor), when i make solo 401k contribution (salary deferral and profit sharing parts) effectively i simply transferring funds from my one account (business) to my another account (tax deferred), so do i simply have following journal entry 2020-05-15 * "solo 401k contribution" Assets:BusinessChecking - 24500 USD Assets:PreTax401k:CSchwab:Cash 24500 USD ? (i have 2 sets of books, and for LLC "tax" books i do following journal entry to make it easy for me do taxes: 2020-05-15 * "solo 401k contribution" Equity:401kProfitSharing 5000 USD Equity:401kSalaryDeferral 19500 USD Assets:BusinessChecking - 24500 USD here i am trying to understand what i should track for myself to make records useful) 2. Do i understand it right that - i also should create separate 401k income account Income:PreTax401k:CSchwab:Gains (separate from my regular brokerage account Income:CSchwab:Gains) -and that all gains / losses from this account will be ignored tax wise for now (won't be included on my 1040 until i take money from it when i am old person) 3. When checking Martin's example file i saw he uses "IRAUSD" currency for 401k, could someone explain why? What's the idea behind it? (comparing to using USD) 4. Any other tips / advises you can give regarding 401k books ? Thank you -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to beancount+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/7a210e41-4f33-41dc-b5b5-0280567153b4n%40googlegroups.com.
