When you register the tax payment you have to split it into two Cr: Asset: Checking account: Tax+Interest Dr: Liability: Tax payable: Tax Dr: Expenses: Interest expenses: Interest
Saludos Cordiales Murugan ________________________________ From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail....@gnucash.org> on behalf of Louise <lou...@bernevyl.com> Sent: 04 January 2025 16:44 To: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: [GNC] Adding Interest to Liability I'm not an accountant, so be gentle with me! I have an account set up for the money I owe the tax man. As I owe it. I've created it as a liability. When I pay it from my chequing account I Withdraw from the chequing account, and transfer to the liability account. That reduces the total amount owed, which seems to be correct. However, I have to pay interest on the amount I owe, which the tax man takes from my chequing account. So when I create the same transaction for the interest, i.e. withdraw from chequing and transfer to tax, the amount is reduced not increased. How do I add interest to the liability account by withdrawing money from the chequing account? -- If you need end-to-end encryption, I have a security key -- This email has been checked for viruses by Avast antivirus software. https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.avast.com%2F&data=05%7C02%7C%7C37c15f82f687408927ac08dd2d2007ff%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638716337792055556%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=lf36PsuWEMfNi1Dd9SN8CNhAFr%2FW5DqCYej5%2FrXPWaw%3D&reserved=0<http://www.avast.com/> _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flists.gnucash.org%2Fmailman%2Flistinfo%2Fgnucash-user&data=05%7C02%7C%7C37c15f82f687408927ac08dd2d2007ff%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638716337792074955%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=1nH54k5ACCIQhsJhfS%2Bw9055Ehk6GVX1yvF2pTqo99o%3D&reserved=0<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.
