* Shane <[email protected]> [2018-05-16 09:39]:
> but I'm unsure how I would zero this account out after my tax return
> without having an expense account.
Well, at some point you'll need an Expense account for it anyway
because it *is* an expense.
If you don't want taxes to pollute your expense report because they
are not "real" expenses, maybe you should only put your *net* salary
figure into ledger. Most people here want to see gross income, taxes
and net, but maybe you only care about the net income (which makes
perfect sense depending on what you care about).
In this case, if you have more tax to pay later that would be an
expenses:tax for you. And if you get a refund, it would be income:
Alternatively, you could also add a "and not expenses:tax" to your
expense reports.
> Using a liability account helps for keeping my expense reports
> simple, but I don't see how I can zero this account without having
> an expense account.
Tax is an expense. If you decide to account for tax, you'll need an
expense account. Although I suspect you could just close it out once
at the end of the year (or when you do your tax return).
> Also, separating them by year helps with reporting, but in a few
> years there will be many tax accounts.
I use meta data to keep track of the year. So I can --pivot by the
meta-data tag "Tax-Year". I have an automated transacation to add
Tax-Year if there's no such meta-data already. So when I pay tax in
January for the same year, I don't add a "Tax-Year". But if I get a
refund in March for the previous year I'd add: "Tax-Year: 2017".
This is my automated transaction:
= /^Expenses:Tax/ and not %Tax-Year and expr commodity == 'EUR' or commodity ==
'USD'
; Tax-Year:: (format_date(effective_date or date, "%Y"))
and for the UK tax year (which doesn't align with the calendar year):
= /^Expenses:Tax/ and not %Tax-Year and expr commodity == 'GBP' and date >=
[2012-04-06] && date < [2013-04-06]
; Tax-Year: 2012-13
= /^Expenses:Tax/ and not %Tax-Year and expr commodity == 'GBP' and date >=
[2013-04-06] && date < [2014-04-06]
; Tax-Year: 2013-14
--
Martin Michlmayr
https://www.cyrius.com/
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