Patrick,
I agree completely but some of us are unfortunately pedantic. David Cousens On Sat, 2024-01-27 at 15:31 -0800, Patrick James wrote: > In my view it's going to be very difficult to justify spending any time > tracking a whole bunch of zeroes with a contra > equity account. I would not even want to see that on the books, much less > spend time every pay period adjusting the > contra account balance to some new amount less than 1. > > At the end, the final paycheck, I'm betting the final paycheck is also > rounded up, so that over the entire life of > employment, the maximum "extra" paid is under 1, with an expected value of > around 0.50. > > This is all just a bunch of zeros, and the cost to track it is less than the > value of the information. > > > > On 01/27/2024 3:14 PM PST David Cousens <davidcousen...@gmail.com> wrote: > > > > > > If you really want to track this you could setup a contra account to your > > Income acct which sums into the Income > > account e.g. > > > > first month: > > > > Income Credit 1800.50 > > Asset:Taxes withheld Debit 300.00 > > Income::Pay rounding Credit 0.50 > > Asset:Bank Debit 1501.00 > > > > second month: > > > > Income Credit 1800.30 > > Asset:Taxes withheld Debit 300.00 > > Income:Pay Rounding Debit 00.30 > > Asset:Bank Debit 1500.00 > > > > The balance in the Pay rounding account should hover around 0.00. and your > > bank account will record the correct > > balance > > in the account at the bank. > > > > > > I cannot for the life of me understand why any payroll system would be > > rounding to the nearest pound if they are > > using > > direct credit of your pay. To the nearest penny yes but not the nearest > > pound. Seems like a hangover from when they > > paid > > in cash and didn't want to be bothered with coins. > > > > David Cousens > > > > On Sat, 2024-01-27 at 08:17 +0000, Oleander via gnucash-user wrote: > > > Hello everyone, > > > > > > how do you record the rounding of your netpay? > > > > > > After subtracting taxes from my gross pay, if the result of my net pay is > > > a floating point number, my company > > > rounds > > > this number up to the next integer then credits the amount to my bank > > > account. But the rounding is just a loan, > > > the > > > next month it will be charged from my gross pay along with taxes and if > > > the result of my net pay again is a > > > floating > > > point number, it will be rounded up to the next integer and then credited > > > to my bank account and so on. > > > > > > Eg: > > > > > > 1st Month > > > > > > Gross Pay = €1800.50 > > > > > > Taxes = €300 > > > > > > Netpay = 1500.50 --> 1501€ (amount credited to my bank account) > > > > > > 2nd Month > > > > > > Gross Pay = €1800.30 > > > > > > Taxes = €300 > > > > > > 1st Month Rounding = €0.50 > > > > > > Netpay = 1499.80 --> 1500€ (amount credited to my bank account) > > > > > > 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 > > > ----- > > > 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 > > ----- > > 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 > ----- > 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 ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
