I track various such items on my own books. I probably wouldn't have separate accounts for the mandatory and the voluntary contributions; they are calculated as one. I would enter each contribution type as a separate split, though. That's how I've done it myself.
For what it's worth, I enter employer contributions as separate income transactions; that way, I end up with a clear sense of the overall activity. I have an income account for employer contributions to keep them isolated. In my accounts, I have all of this in one asset account. As I see it, the interest on your P+Q, when added to the interest on your R, is the same as the interest on P+Q+R, unless the rates are different. Interest is income; you might as well get used to it. Interest accrued will be entered as income, going into the asset account. David On April 20, 2019, at 3:37 PM, Umakanth V S <sher...@gmail.com> wrote: Hi All, I have recently started using GnuCash to keep track of my personal expenses. I find it to be a great software and am still learning its features. This is my first post and it pertains to entering details of employer sponsored deductions from paycheck in GnuCash. I have read other posts related to the subject of paycheck, but could not find any that clarifies my doubts. We have a scheme called PF (Provident Fund), in which some amount is (mandatorily) deducted from the paycheck and credited to the PF. I can also make an additional (voluntary) contribution. The employer contributes an amount which also goes into this Fund. These contributions generate a compounded interest. Details as follows: Employee contrib (mandatory) = P Employee contrib (voluntary) = Q P+Q generates compound interest A P+Q+A = balance of employee contribution Employer contrib = R R generates compound interest B R+B = balance of employer contrib All taken together (P+Q+A+R+B) gives the total balance outstanding in the PF account. I have created the account structure as follows: Assets:PF Assets:PF:Employee_contrib:Employee_contrib-mandatory Assets:PF:Employee_contrib:Employee_contrib-voluntary Assets:PF:Employer_contrib:Employer_contrib I have created all above accounts as 'Bank' Account Type, because, if required, I can take a loan from this PF account. I have two issues: 1. I want to create seperate accounts for Interest earned for my contribution and employer contrib. I tried to do that as Income:Interest-Employee_contrib and tried to place it under the Assets:PF:Employee_contrib: location in the account tree. I am not able to assign it as an Income type. The available types are Bank,Cash,Asset etc . How do I do this or what category do I assign it? I would like both the Interest accounts to be under Assets:PF (and not under Income: )so that I can get a consolidated view of the complete PF account. 2. How do I set up auto calculation of the compound interest A & B for both the employee and employer contribution accounts? Thanks in advance, Umakanth _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- 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 gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
