Re: [GNC] Biils in credit
Andrew, The scheduled transaction system has no conditional capability so stopping it bugging you is not possible unless you delete the scheduled payment. How to record it will depend a lot on the taxation implications. Most solar incentive schemes usually provide tax relief on renewable resources at least for private home owners but as the pressure comes on to reduce subsidies for renewables that may change of course. If it is subject to income tax then you would record it with Income:taxable:feedin_tariff for the balancing split for the split to your asset account. If it is not taxable, then you could use an Income:non-taxable:feedin_tariff account for the second split. Probably best to seek advice from your taxation authority at the risk of alerting them to a means of separating you and your money. It appears you may be in Australia or perhaps NZ. The ATO has nothing on its website and so far doesn't appear to include feed in tariffs in income unless you are a business. The position is complex because of the incentive schemes operating. David Cousens - David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] New User-Chase Bank Problems
I copied an old entry from the OFX LOG. I am using APPVER 2700 and have the exact same issue. I've check my messages with Chase, and there aren't any. I don't know that anything is actually being sent to them. I've been with Chase for 4 years and have used Quicken with them the whole time. I've never been charged to connect, that I can recall. It's always just worked. Thanks for the feedback anyways. Mike On 12/15/2018 5:30 PM, David Reiser wrote: On Dec 15, 2018, at 8:10 PM, Michael Mantei wrote: I was a user of Quicken for as long as I can remember. I'm now trying to get serious about my finances and recently installed GNUCash on my Windows 10 system. I simply installed the software, and built my entire account structure manually, to match exactly what I wanted it to be. Now I need to connect to my bank (Chase) and can't do it. I'm using the AQBanking Wizard and have setup a user account and it won't connect. I started reading lots of messages here then created a new user. This one has the User Name and User Id set to the same name I used with Quicken. I used an online app to generate a Client UID. I've selected JPMorqan Chase Bank as my bank and took the defaults on the Bank Settings page. For the Application Settings, I have an Application ID of "QWIN". The application version is set to 2700 and the header version is set to 103. When I try to retrieve the account list, this is what I get: 14:06:57 Retrieving SSL certificate 14:06:57 Connecting to server... 14:06:57 Using GnuTLS default ciphers. 14:06:57 TLS: SSL-Ciphers negotiated: TLS1.2:ECDHE-RSA-AES-256-GCM:AEAD 14:06:57 Signer not found 14:06:57 Certificate is not trusted 14:06:57 Connected. 14:06:57 Disconnected. 14:06:57 Connection ok, certificate probably received 14:06:57 Operation finished, you can now close this window. The OFX.log file shows this: Sending: - OFXHEADER:100 DATA:OFXSGML VERSION:103 SECURITY:NONE ENCODING:USASCII CHARSET:1252 COMPRESSION:NONE OLDFILEUID:NONE NEWFILEUID:20181214144405.000 20181214144405.000#NAME REMOVED# #PASSWORD REMOVED# ENGChase Bank1601QWIN22004f67a05f-bb69-45a7-ab66-d1f52dc4ef7120181214144405.000119691231 - Anyone have any ideas what I am doing wrong? Your help would be greatly appreciated. SciFiGeek The ofx log says you set the APPVER to 2200 instead of 2700. That probably matters. Another thing is that you’re likely to have to do is log into the Chase web site, and check your secure messages for one that asks you if you were the one trying to sign in with a previously unknown app (as identified by the new unique CLIENTUID). Once you’ve followed the steps in the Chase message, you’ll be in better shape. If you have no message yet, there’s a possibility that the Chase system doesn’t think your software is capable anyway (APPVER too low). Change the APPVER, try Aqbanking again, and then check your account messages online again. I only have Chase credit cards. I don’t know if the procedure is different for checking and savings accounts. Chase does by default charge a fee for checking/savings access via OFXDirectConnect. But since you’ve connected before, I’m assuming that isn’t causing you problems. I also don’t know if Chase has changed the out-of-band verification steps since the first round two years ago. Good luck. -- Dave Reiser dbrei...@icloud.com ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
[GNC] Biils in credit
I get a bill from my electricity provider. For part of the year, the solar feed in payments mean our bill is actually in credit. eg. service charge: $30 electicity used: $100 GST (Goods and Services Tax): $13 Solar feed in: -$170 Total owing: -$27 Then on the next bill the balance carreis over and the amount we're in credit goes up. There's nothing to pay on the bills, but when the due date comes GNUCash starts bugging me to pay them. I've been paying them from an asset account created to keep track of this balance. What the best way to keep track of this? -- Cheers, Andrew. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] How To Handle Prepayments
On 12/15/2018 4:06 PM, tbalaban wrote: My Company pays an initial payment to our insurer at the beginning of each policy year. As we incur insurance costs based on event participants, that initial payment is charged. After it is exhausted we get a monthly bill for the amount due. In no case do we ever get the initial payment back. I'd like to treat the initial payment as a credit to insurer's A/P account then each month create a bill for the amount payable. Is this the correct way to handle such a transaction? What do you mean by "correct"? WHY would you want to do this? Look, I really should not be giving accounting/tax advice, but normally you make that sort of decision on what tax law allows. It is normally advantageous to "expense" a business expenditure (not treat as an asset) if you are allowed to. I suggest you consult your accountant whether you have to treat as a "wasting" asset something with a "life" of less than one year. Michael D Novack ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] How To Handle Prepayments
Stan, Assuming one uses a bank at all... But even then, if you record the pre-paid expense when you get the bill 2 months early, your assets are off. (though not inflated, sorry, that was the wrong term) You’re showing you have more pre-paid expenses and less money in the bank than you actually do. On the date of the payment that transaction will be correct, but not until then. Of course, for personal finances, one might not care that a balance sheet in the interim will be incorrect. Regards, Adrien > On Dec 16, 2018, at 7:31 AM, Stan Brown wrote: > > >> From: Adrien Monteleone >> I receive a bill about a month in advance of the due date every six > months for auto insurance. If I pay that bill early, or on time, I am > gaining a ?pre-paid? asset to be used up over the next six months. My > problem wasn?t using the bills feature to handle this, or the expensing > (I just set up a scheduled transaction for that part) but that I > couldn?t post the ?advance? bill without it posting to my assets right > away. Yet, it isn?t an asset till I actually pay it. I was wanting to > take advantage of the bills due reminder for this bill. I had to settle > on waiting to post the bill until I actually make the payment and > forgoing the reminder. That way, my assets weren?t inflated early. > Otherwise, everything else works out fine. > > Why not use your bank's bill-pay service to schedule the bill payment? > At least in the US, such services are typically free, and in fact you > make money because you don't have to use a stamp, not an envelope, or a > paper check, all of which cost money to replace. > > When I get the bill -- and in my case it's almost two months in advance > for six-month auto insurance -- I immediately schedule bill pay for the > due date and then record: > > Debit: Assets » Prepaid Expenses » Auto Insurance > Credit: Bank Accounts » Bank X > Description: (Company) payment on (due date) > > Thus I don't have to remember to pay the bill, my total assets are not > inflated, and I know that money is earmarked so I don't accidentally > spend Bank X down to a balance that is still positive but not large > enough to cover the scheduled payment. > > -- > Regards, > Stan Brown > Tompkins County, New York, USA > http://BrownMath.com > http://OakRoadSystems.com > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] How To Handle Prepayments
In that case, yes, I would just expense them as well. And you can do that with a manual transaction or a vendor bill—your choice. Regards, Adrien > On Dec 15, 2018, at 5:37 PM, Tom Balaban wrote: > > Many thanks Adrien. > > I think your explanation works except for a minor detail, after the initial > payment is exhausted all payments are after the fact. > > Each month I submit a report of participant count for the prior month. They > will then send me a bill for the amount due. > > I don't think there is anything prepaid regarding these subsequent payments > so I'm pretty sure I can just expense them. > > Best, > Tom > > -- Original Message -- > From: "Adrien Monteleone" > To: "Gnucash Users" > Sent: 12/15/2018 4:41:12 PM > Subject: Re: [GNC] How To Handle Prepayments > >> I’m not sure I’m entirely following the timing exactly, but many insurances, >> and it looks like your’s falls in this category, are pre-paid. >> >> Thus they are assets until they are ‘used’. >> >> So when you make the initial payment: >> >> Dr. Assets:Current Assets:Pre-Paid Assets:Insurance >> Cr. Assets:Current Assets:Cash/Checking >> >> You can handle that with a Vendor bill and Payment if you like. >> >> As the insurance is ‘used’: >> >> Dr. Expenses:Insurance >> Cr. Assets:Current Assets:Pre-Paid Assets:Insurance >> >> This can be handled with a manual or scheduled transaction as your situation >> dictates. (which could also be a vendor bill, if you didn’t use one for the >> initial payment) >> >> Subsequent payments are likely still in advance, and so would go to increase >> the pre-paid asset first and then when used, they are expensed. >> >> There is no need for involving A/P accounts or credit memos to adjust them. >> (unless you opt for the vendor bill route, but you still shouldn’t need >> credit memos) >> >> I had a thread some months back on a similar topic and the issue is >> something to consider: >> >> I receive a bill about a month in advance of the due date every six months >> for auto insurance. If I pay that bill early, or on time, I am gaining a >> ‘pre-paid’ asset to be used up over the next six months. My problem wasn’t >> using the bills feature to handle this, or the expensing (I just set up a >> scheduled transaction for that part) but that I couldn’t post the ‘advance’ >> bill without it posting to my assets right away. Yet, it isn’t an asset till >> I actually pay it. I was wanting to take advantage of the bills due reminder >> for this bill. I had to settle on waiting to post the bill until I actually >> make the payment and forgoing the reminder. That way, my assets weren’t >> inflated early. Otherwise, everything else works out fine. >> >> Regards, >> Adrien >> >>> On Dec 15, 2018, at 3:06 PM, tbalaban wrote: >>> >>> My Company pays an initial payment to our insurer at the beginning of each >>> policy year. As we incur insurance costs based on event participants, that >>> initial payment is charged. After it is exhausted we get a monthly bill for >>> the amount due. In no case do we ever get the initial payment back. >>> >>> I'd like to treat the initial payment as a credit to insurer's A/P account >>> then each month create a bill for the amount payable. >>> >>> Is this the correct way to handle such a transaction? >>> >>> Assuming it is, how do I credit the amount due from whatever account I >>> posted the initial payment to? >>> >>> In practice we pay the initial payment in February, the start of our paolicy >>> year. Usually, in April or May, the initial payment is exhaused and we have >>> to send more money to pay that month's bill. I'm not at all clear on how to >>> post this situation. >>> >>> I'd appreciate knowing how to do this in GNUCash as well as any comments on >>> the applicable general accounting rules. In Quickbooks I could debit or >>> credit A/R or A/P diectly and selects the customer or vendor required. Since >>> that capabiity does not appear to be available in GNUCash, how do I post it? >>> >>> Many thanks for your already generous help. >>> >>> >>> >>> -- >>> Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html >>> ___ >>> gnucash-user mailing list >>> gnucash-user@gnucash.org >>> To update your subscription preferences or to unsubscribe: >>> https://lists.gnucash.org/mailman/listinfo/gnucash-user >>> If you are using Nabble or Gmane, please see >>> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >>> - >>> 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 >> If you are using Nabble or Gmane, please see >>
Re: [GNC] How To Handle Prepayments
> From: Adrien Monteleone > I receive a bill about a month in advance of the due date every six months for auto insurance. If I pay that bill early, or on time, I am gaining a ?pre-paid? asset to be used up over the next six months. My problem wasn?t using the bills feature to handle this, or the expensing (I just set up a scheduled transaction for that part) but that I couldn?t post the ?advance? bill without it posting to my assets right away. Yet, it isn?t an asset till I actually pay it. I was wanting to take advantage of the bills due reminder for this bill. I had to settle on waiting to post the bill until I actually make the payment and forgoing the reminder. That way, my assets weren?t inflated early. Otherwise, everything else works out fine. Why not use your bank's bill-pay service to schedule the bill payment? At least in the US, such services are typically free, and in fact you make money because you don't have to use a stamp, not an envelope, or a paper check, all of which cost money to replace. When I get the bill -- and in my case it's almost two months in advance for six-month auto insurance -- I immediately schedule bill pay for the due date and then record: Debit: Assets » Prepaid Expenses » Auto Insurance Credit: Bank Accounts » Bank X Description: (Company) payment on (due date) Thus I don't have to remember to pay the bill, my total assets are not inflated, and I know that money is earmarked so I don't accidentally spend Bank X down to a balance that is still positive but not large enough to cover the scheduled payment. -- Regards, Stan Brown Tompkins County, New York, USA http://BrownMath.com http://OakRoadSystems.com ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] how to track Futures and Options
Thanks Alton for your detailed indications!! -- Christian El sáb., 15 dic. 2018 19:07, Alton Brantley escribió: > I carry options as a stock. Just multiply the contracts by 100 to show > shares under options. > Regarding commissions, I have a subaccount under the brokerage account > labeled “Open Commissions”. > When I execute an opening transaction, then the commission is debited to > “Open Commissions”. I think of this as a prepaid expense. > When I execute a closing transaction, the commission is debited to “Open > Commissions” also. And here’s the trick. > When I use the lots function to match the two parts of the transaction, I > get a realized gain that is then adjusted by > crediting the two “Open Commissions”. > (I actually do one additional step, which is to change the above “Open > Commissions” to “Closed Commissions-CYxx” where xx is the year of the > realized gain/loss. By doing this, I have an automatic check that I have > accounted for commissions correctly, as the balance of Closed Commissions > should always be 0.) > > So my accounts look like this: > Brokerage: AAPL 01/15/2021 230.00 C > > Transactions: > Opening (Sell Call to Open) > 09/19/2018 SCO AAPL 01/15/2021 230.00 C > -1200. > Brokerage:Cash > 38,379.55 > Brokerage:Open Commissions > 8.45 > Brokerage:AAPL 01/15/2021 230.00 C -1200. 31.99 > 38,388.00 > > Closing (Buy Call to Close) > 11/09/2018 BCC AAPL 01/15/2021 230.00 C > 0. > Brokerage:AAPL 01/15/2021 230.00 C 1200. 25.58 > 30,696.00 > Brokerage: Open Commissions > 12.90 > Brokerage:Cash >30,78.90 > > After matching up lots > 11/09/2018 Realized Gain AAPL 01/15/2021 230.00 C > Brokerage:AAPL 01/15/2021 230.00 C > 7,692.00 > Brokerage:ShtTermCapGain >7,670.65 > Brokerage:Open Commissions >8.45 > Brokerage:Open Commissions > 12.90 > > I then go back to each of the above transactions and change the > “Brokerage:Open Commissions” to “Brokerage:Closed Commissions-CY18” > This way, the “Open Commissions” account holds only unclosed transactions, > and all “Closed Commissions-CYxx” are 0. > > (For best results, copy this message into a text file and view with a > fixed size font so columns match up.) > > > > > > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
