Umakanth, Income (and Expense) accounts always need to be under the Income or Expense top account. The only way to associate them to assets or liabilities is to have similar names. I normally name them with the base name first, then some significant detail then end with Interest or whatever is best description. I also avoid spaces or punctuation in account names. I am sure David T uses his own method to do the same thing.
David Carlson On Sat, Apr 20, 2019 at 8:11 AM D via gnucash-user <gnucash-user@gnucash.org> wrote: > Sorry. I didn't really answer your second question. > > First question, why do you need to calculate the two interest figures > separately? Does the fund manager do this? > > As for calculating interest, you will find it fraught with difficulty. The > likelihood that your calculations will match the institution's every time > is extremely low. I gave up on that long ago, and instead enter such > information from the statement. > > David > > On April 20, 2019, at 6:27 PM, D via gnucash-user < > gnucash-user@gnucash.org> wrote: > > 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. > _______________________________________________ > 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. > -- David Carlson _______________________________________________ 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.
