While experimenting this problem, I found it exposes a subtle
behaviour/bug... I was hoping to do the following manual assignment: create
a transaction with 3 splits -
- asset:bank +80
- a/receivable -100
- asset:WHT +20
then right-click the transaction, assign $80 as payment for the invoice.
But this will assign the 100 to the invoice then 20 as overpayment to the
same customer. This is not what we want.
Therefore your *only *currently available steps is (IMHO): process payment
as usual, for $80 only. This creates a regular transaction:
- asset:bank +100
- a/receivable -100 (to clear the invoice)
Then you will do *two* further modifications:
1. modify to include split to asset:WHT
- asset:bank +80
- a/receivable -100 (linked to invoice)
- asset:WHT +20
2. import OFX/QIF from the bank, and match the OFX transaction to your
asset:bank split. Thus:
- asset:bank +80 (linked to OFX online_id)
- a/receivable -100 (linked to invoice)
- asset:WHT +20
On Fri, 2 Oct 2020 at 04:25, Paul W via gnucash-user <
gnucash-user@gnucash.org> wrote:
> Stan,
>
> I see what you are saying. Practically I think I need to process the
> invoice payment twice, first part payment (80) to Accounts Receivable then
> another payment (20) to Assets: WHT. But I don't seem to have this ability
> in gnucash because when I process an invoice payment in the 'post to' box
> only has Assets: Accounts Receivable as an option in the pull down menu.
> Help!
>
> Paul
>
>
> On 2020-10-01 19:14, Paul W via gnucash-user wrote:
> > Foreign Government A keeps this money and My Government B will credit
> this amount against my corporation tax liability.
> >
> > My invoice is for the full amount, £100.
> >
> > Usually (without WHT) when the invoice is paid the full amount is
> > sent to my Accounts Receivable. In this case I think the way to do it
> > is for gnucash to send £100 to Accounts Receivable then £80 will go
> > from here to my Asset: Bank Account and £20 to Asset: WHT. How do I
> > achieve this in gnucash?
>
> Just to be clear, the answer to any question like this is always, "Think
> of GnuCash as a pen-and-ink ledger. First determine what entries you
> need to make, to cover your own accounting and tax needs. Once you know
> that, you can make those entries in GnuCash."
>
>
> > Do you agree this is the way to do it?
>
>
> I don't think so. Since you will collect 80 pounds not 100, the amount
> in receivables should, I think, be 80 pounds not 100. The 20 pounds is
> an asset, but it is a prepaid tax expense and not a receivable.
>
> Debit: Assets: Receivable from {customer} 80
> Debit: Assets: Tax prepaid to {Foreign Government} 20
> Credit: Income: Sales 100
>
> Then at the end of the year you make an adjusting entry:
> Debit: Liabilities: Tax payable to {My Government) {total for the year}
> Credit: Assets: Tax prepaid to {Foreign Government} {same amount}
>
> That lets you track the amounts invoice by invoice or by annual totals.
> For strictly accounting purposes, that is what I would do. However, your
> country may mandate doing it in a particular way, so you may want to get
> local advice on that point. There's no need to bring GnuCash into that
> discussion; just ask how debits and credits should be recorded.
>
> --
> Regards,
> Stan Brown
> Tehachapi, CA, USA
> https://BrownMath.com
> https://OakRoadSystems.com
>
>
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