Actually, not a specific gnucash question and while I am US (and file
taxes here) anyone who understands double entry bookkeeping could answer.
Because you are asking "how do I enter a transaction if I know it might
have to be corrected later?" The point is that you CAN later enter a
correction transaction. In formal accounting you do NOT change past
entries. Instead you enter a correcting transaction, in the
description, explaining and identifying the transaction that is being
corrected.
So enter it NOW the way you think it should be, If later you discover
should have been a different account, etc. enter a correction transaction.
In other words, suppose you THINK the proper credit account is
"expense1". But later you learn (you say the IRS tells you) should have
been "expense2". So you enter a correction transaction debiting expense2
and crediting expense1 << moves the expense for expense1 to expense2 >>
They are BOTH "in the Journal". If this was an IRS ordered correction
you might be dating it for during YE processing and rerunning your YE
reports to reflect the change in the correct tax year.
Michael D Novack
On 12/17/2022 5:35 AM, Jeff wrote:
For United States of America respondents, unless you have previous
experience with the I.R.S. please do not provide answers.
I'm not sure how to to ask this.
If you are as I am then don't feel alone. I wish they would just levy
a straight tax on everyone, the IRS would finally make a profit and we
then could maybe find ways to support our own disabled (like myself
who does not qualify, even though I can no longer hold a job in the
real world because of a medical condition that is uncontrollable by
any medical means available with our "modern" medicine). I'm entering
0 dollars in accounts that I know that there is money flowing though
them, I just do not know what the other account would be (mysteries,
love them but hate them them come tax time).
I have a debits that must go to multiple accounts. Problem is, I will
not know which accounts for several weeks ( which may be after 2022
tax time thanks to the IRS, they found an error last year that costed
me $6,000). Gotta love government accounting, want your money now,
might give some back latter if lucky or take more, and goodness knows
what account they decided to return or take it from. Then you have to
adjust your books accordingly, which violates our double entry journal
system ( it may create accounts or tree accounts that are unneeded but
required by the IRS).
Should I wait until they decide or just use in-balance usd until they
decide. Hopefully before tax time.
I've been entering 0 balances in accounts that I know have $ in them
and putting the difference in in-balance usd.
I know that I am not clear on my question but the please ask (U.S.
only), not offend.
--
There is no possibility of social justice on a dead planet except the equality
of the grave.
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