For your use case you could use AP accounts and bills. Let's assume your use tax is 15% to be cleared in December 2020.
I'd think, during purchase 24/02/2020 Buy something, will also need to pay use tax Expense:MI Use Tax +$100 Asset:Bank -$100 and post a bill, posting date is 01/12/2020 31/12/2020 Use Tax due Expense:Use Tax $15 A/Payable -$15 and in December 2020, clear the AP bill as usual. --- You could also do it manually without using AP/AR accounts 31/12/2020 Use Tax due Expense:Use Tax $15 Liability:Future Use Tax -$15 and in December 2020, clear the Liability account. --- > Other payable accounts you create should be of type ‘liability’ and you can manually enter stuff there all you want. (there can be only one account of either *type* AP or AR) You can actually have as many AP/AR accounts as you like, in different currencies too. On Sun, 23 Feb 2020 at 01:47, Brandon Captain <caib...@gmail.com> wrote: > I make purchases for which I owe state Use Tax on. It's important for me to > record the Use Tax liability at the time it becomes a liability, but only > record it as an expense at the time that I pay it. > > I have several accounts for this, but the important ones are: > > * "Future Expense(A/P):MI Use Tax", a top-level Accounts Payable account. > * "Expenses:MI Use Tax" > * "Liabilities:MI Use Tax" > > When I make a purchase that I owe use tax on, I make a split transaction: > * decrease an asset account by the amount I paid, and increase the expense > account by the amount I paid (not including the unpaid use tax). > * increase the "Liabilities:MI Use Tax" and increase "Future > Expense(A/P):MI Use Tax" > > In the next year when I remit the Use Tax to my state, I create another > split transaction for the amount I pay in use tax: > * decrease whatever asset account, and decrease "Liabilities:MI Use Tax" > * decrease "Future Expense(A/P):MI Use Tax", and increase "Expenses:MI Use > Tax". > > This method allows me to keep the Use Tax that I pay recorded in the proper > year - I can't record it as an expense at the time I buy the item, because > I haven't paid that portion of it yet, and I don't want to have to remember > that come next tax season. > > I am not using the default "Liabilities:Accounts Payable" account because > it would negate "Liabilities:MI Use Tax", and would always look like I have > a zero tax liability which would be incorrect. > > So this setup seems to work, but I'm unsure about the GnuCash documentation > which says: "Transactions involving an Accounts Payable account should not > be added, changed or deleted in any way other than by using post/unpost > bill/invoice/voucher or process payment" > > I don't use the payment system (yet), but why is it such a problem to > manually enter A/P transactions? > > Is it really that important that I use the bill/payment system for these > transactions? And once I do so, can I safely split them afterward? > > Thank you > _______________________________________________ > 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.
