Thankyou! I obviously have a lot to learn about accounting still! I'll
have a play with this to see if it fixes my issues. It seems to from a
quick test data file I created. On your other point, under Equity I
created an account structure as follows:
Equity
Owner's equity
Owner's deposits
Owner's withdrawals
to try and capture the fact that I've been using personal money
injections to make purchases while I'm starting up my business. So the
screenshot I sent through shows me using personal money to pay for a
cellphone charge. Is there a better way of accounting to capture this?
On 1/04/20 11:41 pm, Christopher Lam wrote:
Bingo. Everything is wrong about it :) You should probably input this
purchase from the bank account or credit card that you used to pay for
it. It should be similar to:
image.png
On Wed, 1 Apr 2020 at 10:30, JV <jal...@hotmail.com
<mailto:jal...@hotmail.com>> wrote:
I've attached a screenshot which shows the purchase data of a
typical expense entry. Please let me know if I've entered the
data in the wrong columns.
On 1/04/20 11:06 pm, Christopher Lam wrote:
Please remember to cc the mailing list for all replies.
Now we've established you are on credit-accounts, the amounts
showing negative means you have likely entered the GST on
Purchase data incorrectly.
On Wed, 1 Apr 2020 at 09:58, JV <jal...@hotmail.com
<mailto:jal...@hotmail.com>> wrote:
Thanks for your help. I wasn't aware of the
Preferences>Accounts>Reverse Balanced Accounts feature but
you're right - that was my setting. I still don't understand
why GNUCash is handling the values the way it is. I've pretty
much got the structure you suggested:
GST [Liability]
GST:Collected on Sales [Liability]
GST:Paid on Purchases [Asset]
GST:Paid to IRD [Asset]
Except that I figure that the GST I've paid to the tax
department (IRD) so far should be an asset (please correct me
if I'm wrong). But for some reason whatever I change the
account type to for these values (liability or asset), it
doesn't seem to affect the top-level account sum total at all.
On 1/04/20 10:31 pm, Christopher Lam wrote:
Hi
(Screenshot containing private data snipped)
The first rule here is that support emails are always public
because others may want to help.
It seems you have set the Preferences > Accounts > Reverse
Balanced accounts to 'Credit accounts' which is fine.
It also seems that the GST Paid and GST Returns filed are
negative -- depending on the preference above, this may be
fine; but the parent account adding the values as described
would suggest that they may be incorrect account type.
It seems your GST Sales > GST Purchases, so, I'd suggest the
following structure, with top-level GST account:
GST [Liability]
GST:Collected on Sales [Liability]
GST:Paid on Purchases [Asset]
GST:Paid to IRD [Liability]
Thus all values would usually be positive with 'credit
accounts' reversal option.
You can also try the "Income & GST Statement" report to
assist with your periodic filing.
On Wed, 1 Apr 2020 at 09:02, JV <jal...@hotmail.com
<mailto:jal...@hotmail.com>> wrote:
That would be great! Sorry, I'm also new to these
support mailing lists
so please let me know if I'm meant to be looking for
support elsewhere
or in a different format.
I've attached a screenshot to give you some insight. I
don't understand
why it's adding up the absolute values of the GST
figures rather than
giving the assets (GST paid & GST returns filed) a
positive value and
liabilities (GST collected) a negative value. The 'GST
payable to IRD'
in my mind should be GST collected minus GST paid minus
GST returns
filed. Thanks for much for your help - it's starting to
do my head in!
On 1/04/20 9:45 pm, Christopher Lam wrote:
> Maybe you can share your account structure or a data
file with sample data,
> and we can try make it work? The documentation is
still behind the
> reporting capability.
>
> On Wed, 1 Apr 2020, 4:08 pm Jacob Verbeek,
<jacobv.consulta...@gmail.com
<mailto:jacobv.consulta...@gmail.com>>
> wrote:
>
>> Hi,
>> I'm a new user of GNUCash for my fledgling consulting
business. I love
>> the program but can just not get GST to work the way
I want to (New
>> Zealand). I've read all the documentation I can find
on it. I've gone
>> with the 3-account system but GNUCash seems to just
add up the absolute
>> value of the numbers I enter into each category,
disregarding whether
>> they have a positive or negative value; changing the
account type to
>> asset/liability doesn't seem to make any difference.
It's probably
>> something really simple and dumb but I just can't
seem to fix it. How
>> do I go about getting some support to resolve this issue?
>>
>> Much appreciated,
>>
>> JACOB
>>
>> 022 0264943
>> jacobv.consulta...@gmail.comm
<mailto:jacobv.consulta...@gmail.comm>
>> www.about.me/jacobverbeek
<http://www.about.me/jacobverbeek>
>>
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