Re: [GNC] [GNC-dev] Reminder: String Freeze

[Frank H. Ellenberger]

– and the new messages are now also in weblate
https://hosted.weblate.org/engage/gnucash/

Regards
Frank

Am 05.12.21 um 22:35 schrieb John Ralls:
> And today's the day. The tarball is off to the translation project so please 
> no translatable string changes until after the release on the 19th.
> 
> Regards,
> John Ralls
> 
>> On Dec 2, 2021, at 10:45 AM, Frank H. Ellenberger 
>>  wrote:
>>
>> Dear contributors,
>>
>> I just had a look into https://wiki.gnucash.org/wiki/Release_Schedule:
>>
>> Release  String Freeze
>> 4.9  2021-12-05
>>
>> If you still have string changing patches around, hurry up!
>>
>> Regards
>> Frank
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> 
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Re: [GNC] The correct way to account for prepaid things that comes with bonuses

[davidcousens49]

Mattio,

Since you receive the discount at the time you purchase the pack and it is
available to you at that point so that is really the point at which I would
record it. 

David

On Mon, 2021-12-06 at 23:02 +0100, Mattia Rizzolo wrote:
> Hi David, Gyle.
> 
> Thank you for your input.  It looks both of you agree that this should
> be a negative expense rather than in income.
> 
> On Tue, Dec 07, 2021 at 06:35:22AM +1000, davidcousen...@gmail.com wrote:
> > This would allow you to keep track on
> > both the original expense and the economic benefit you receive by the bulk
> > purchase
> 
> Good point, indeed.
> 
> > However if your jurisdiction were to tax such discounts, treating it as
> > income
> > will likely be more appropriate. It is really the tax treatment which
> > decides
> > how best to account for it.
> > If you are unsure consult an accountant in your jurisdiction.
> 
> This book is for personal porpuses, and in any case that purchase is
> done for me, rather than for my business.
> I'm not sure about the tax implication of such bonuses for business, but
> for people it's not taxable (I'm sure here!), so marking it down as a
> negative expense is fine here.
> 
> Regardless, then, another question that I didn't consider it earlier.
> The negative charge in that's going to be Expenses:Travel:Rental: should
> it be credited in bulk at the time of the purchase of the pack, or
> somehow split over multiple accounting periods?  If yes, how would I go
> about splitting this?
> 
> 
> Thanks again for your help! :)
> 
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Re: [GNC] The correct way to account for prepaid things that comes with bonuses

[Mattia Rizzolo]

Hi David, Gyle.

Thank you for your input.  It looks both of you agree that this should
be a negative expense rather than in income.

On Tue, Dec 07, 2021 at 06:35:22AM +1000, davidcousen...@gmail.com wrote:
> This would allow you to keep track on
> both the original expense and the economic benefit you receive by the bulk
> purchase

Good point, indeed.

> However if your jurisdiction were to tax such discounts, treating it as income
> will likely be more appropriate. It is really the tax treatment which decides
> how best to account for it.
> If you are unsure consult an accountant in your jurisdiction.

This book is for personal porpuses, and in any case that purchase is
done for me, rather than for my business.
I'm not sure about the tax implication of such bonuses for business, but
for people it's not taxable (I'm sure here!), so marking it down as a
negative expense is fine here.

Regardless, then, another question that I didn't consider it earlier.
The negative charge in that's going to be Expenses:Travel:Rental: should
it be credited in bulk at the time of the purchase of the pack, or
somehow split over multiple accounting periods?  If yes, how would I go
about splitting this?


Thanks again for your help! :)

-- 
regards,
Mattia Rizzolo

GPG Key: 66AE 2B4A FCCF 3F52 DA18  4D18 4B04 3FCD B944 4540  .''`.
More about me:  https://mapreri.org : :'  :
Launchpad user: https://launchpad.net/~mapreri  `. `'`
Debian QA page: https://qa.debian.org/developer.php?login=mattia  `-


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Re: [GNC] The correct way to account for prepaid things that comes with bonuses

[davidcousens49]

Mattio,

It is possible more correctly described as a discount on the expense so instead
of crediting an Income:Bonuses account you could credit what accountants call a
contra account to Expenses:Travel:Rental which couuld be named
Expenses:Travel:Rental:Discounts which sums into the parent expense account,
i.e. it is essentially a price reduction. This would allow you to keep track on
both the original expense and the economic benefit you receive by the bulk
purchase The moped owner is essentially compensating you in part for the extra
interest he earns on the money you have deposited with him in advance.

However if your jurisdiction were to tax such discounts, treating it as income
will likely be more appropriate. It is really the tax treatment which decides
how best to account for it.  
If you are unsure consult an accountant in your jurisdiction.

David Cousens 
On Mon, 2021-12-06 at 18:01 +0100, Mattia Rizzolo wrote:
> Hi!
> 
> I wanted to more correctly account for the local "moped sharing" company
> we have here, which offers to buy a prepaid package that comes with a
> bonus.
> 
> In this case, I bought a 90€ package that comes with a 40€ bonus, so my
> in-app wallet is credited with 130€.
> I planned to store that 130€ in Assets:PrepaidExpenses, to be whittled
> down whenever I do rent a moped, at which point it's expensed.
> 
> Now, that sounds all fine to me, but I'm not really sure where those 40€
> should come from.
> 
> Right now I did:
> 
> 2021-10-08  Buy package
> Assets:PrepaidExpenses:Moped   130.00
> Liabilities:CreditsCards:…… 90.00
> Income:Bonuses  40.00
> 
> 2021-11-04  Rental
> Assets:PrepaidExpenses:Moped4.93
> Expenses:Travel:Rental4.93
> (etc)
> 
> 
> But I don't think that should really come from Income: :\
> 
> 
> Opinion/suggestions/recommendations? :)
> 
> Thank you in advance!
> 
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Re: [GNC] Bitcoin is legal currency in El Salvador - why not add BTC?

[Dustin Henning]

On 12/5/21 11:57 AM, john wrote:



On Dec 5, 2021, at 8:40 AM, Dr. David Kirkby  
wrote:

On Sun, 5 Dec 2021 at 16:09, Derek Atkins  wrote:


Is there not a case for adding cryptocurrency support? For anyone able to
build GnuCash from the source code, I would expect it to be a trivial
matter to add whatever currency they want, but I would have thought
there's
a good case for adding cryptosupport, in addition to fiat currencies.

There is no ISO4217 entry for it.


The great thing about standards is that there’s a lot to choose from. 

It seems all cryptocurrency exchanges use data from CoinMarketCap, so I
would have thought that to be as authoritative a list
as any.

https://coinmarketcap.com/all/views/all/

I'm in the UK, and have never dealt with anyone in El Salvador, but it
seems odd for an accounting package not to support a currency that's legal
tender in a certain country.

I see that there are some minor currencies not listed in ISO 4217, but
around $39,000,000,000 of bitcoin have been traded over the last 24-hours.
It is hardly a minor currency.

I guess this gives me an incentive to get GnuCash to compile on linux. Then
adding cryptocurrencies would (I assume) be fairly easy.

Sorry, Bitcoin is neither a major nor a minor currency. It's not a currency at 
all: It isn't backed by the full faith and credit of any government, including 
El Salvador's, nor is it used much for actual commerce, even in El Salvador. 
$39B *traded*, not $39B was used to pay for goods and services. That describes 
a speculation vehicle, not a currency.

Regards,
John Ralls

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I would also question the definition of legal tender in this case.  It 
is my understanding that vendors in El Salvador aren't legally required 
to accept BTC, so it seems feasible that even that definition doesn't 
apply in spite of what various "news" outlets have reported.  
Regardless, there is nothing stopping you from setting up BTC as a 
security, and my understanding is that the latest versions of GnuCash 
support at least 8 decimal places for good measure (that certainly 
wasn't the case in 2011).


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Re: [GNC] The correct way to account for prepaid things that comes with bonuses

[Gyle McCollam]

That looks correct to me.  However, I don't like to classify a "Bonus" as 
Income, unless they are taxable.  I would record it as a negative expense, 
again if it is not taxable.  That is how I record cash back on my various 
credit cards, it is more of a purchase discount than an income amount.


Thank You,
Gyle McCollam

Gyle McCollam

609.680.2326 Mobile

gmccol...@live.com   email


From: gnucash-user  on 
behalf of Mattia Rizzolo 
Sent: Monday, December 6, 2021 12:01 PM
To: gnucash-user@gnucash.org 
Subject: [GNC] The correct way to account for prepaid things that comes with 
bonuses

Hi!

I wanted to more correctly account for the local "moped sharing" company
we have here, which offers to buy a prepaid package that comes with a
bonus.

In this case, I bought a 90€ package that comes with a 40€ bonus, so my
in-app wallet is credited with 130€.
I planned to store that 130€ in Assets:PrepaidExpenses, to be whittled
down whenever I do rent a moped, at which point it's expensed.

Now, that sounds all fine to me, but I'm not really sure where those 40€
should come from.

Right now I did:

2021-10-08  Buy package
Assets:PrepaidExpenses:Moped   130.00
Liabilities:CreditsCards:…… 90.00
Income:Bonuses  40.00

2021-11-04  Rental
Assets:PrepaidExpenses:Moped4.93
Expenses:Travel:Rental4.93
(etc)


But I don't think that should really come from Income: :\


Opinion/suggestions/recommendations? :)

Thank you in advance!

--
regards,
Mattia Rizzolo

GPG Key: 66AE 2B4A FCCF 3F52 DA18  4D18 4B04 3FCD B944 4540  .''`.
More about me:  https://mapreri.org : :'  :
Launchpad user: https://launchpad.net/~mapreri  `. `'`
Debian QA page: https://qa.debian.org/developer.php?login=mattia  `-
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[GNC] The correct way to account for prepaid things that comes with bonuses

[Mattia Rizzolo]

Hi!

I wanted to more correctly account for the local "moped sharing" company
we have here, which offers to buy a prepaid package that comes with a
bonus.

In this case, I bought a 90€ package that comes with a 40€ bonus, so my
in-app wallet is credited with 130€.
I planned to store that 130€ in Assets:PrepaidExpenses, to be whittled
down whenever I do rent a moped, at which point it's expensed.

Now, that sounds all fine to me, but I'm not really sure where those 40€
should come from.

Right now I did:

2021-10-08  Buy package
Assets:PrepaidExpenses:Moped   130.00
Liabilities:CreditsCards:…… 90.00
Income:Bonuses  40.00

2021-11-04  Rental
Assets:PrepaidExpenses:Moped4.93
Expenses:Travel:Rental4.93
(etc)


But I don't think that should really come from Income: :\


Opinion/suggestions/recommendations? :)

Thank you in advance!

-- 
regards,
Mattia Rizzolo

GPG Key: 66AE 2B4A FCCF 3F52 DA18  4D18 4B04 3FCD B944 4540  .''`.
More about me:  https://mapreri.org : :'  :
Launchpad user: https://launchpad.net/~mapreri  `. `'`
Debian QA page: https://qa.debian.org/developer.php?login=mattia  `-


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