Re: [GNC] Is there any way to find all outstanding bills?

[Geert Janssens]

Most likely you have created payments and bills independently of each other and 
never 
linked them. In that case your balances show 0, but the gnucash business logic 
doesn't know 
the bill is actually paid.

There are a few ways to solve this. I propose to try this:
* Open Business->Vendor->Process Payment...
* Select the vendor that's listed in your payable ageing as having unpaid bills.
* Select the proper "Post To" account. It should be different depending on the 
currency of 
the outstanding bills.

=> This should show a list of pre-payments and bills in the documents view that 
haven't been 
considered as processed by the business logic.

* Use shift-click or ctrl-click to select one or more payments and bills that 
should be linked 
together.

=> If the payments and bills balance, the payment and refund fields should both 
be 0 and 
the "Transfer Account" list greyed out.

* Click the Ok button to complete linking the bill(s) and payment(s).

* Repeat for each of the vendors that appear to have unpaid bills.

Hope that helps,

Geert

Op dinsdag 24 januari 2023 03:39:02 CET schreef Dr. David Kirkby:
> On Tue, 24 Jan 2023 at 01:50, Murugan Muruganandam <
> 
> m.muruganan...@hotmail.com> wrote:
> > have you tried looking at the Payable ageing report
> > 
> > 
> > Saludos Cordiales
> > 
> > 
> > Murugan
> 
> No, I had not, and that seems to have what I wanted. I'm just a bit puzzled
> that some of the figures don't make sense. If I look at Accounts Payable,
> which is in GBP, the data seems correct - I owe RS £210.41.
> 
> Accounts Payable for USD and HKD are both zero, but the report indicates
> monies are owed. But when I click on the vendors, it shows nothing owed.
> When I click on the bills, it shows these are paid.
> 
> These seem to have a pre-payment on these couple of transactions. I assume
> I have done something wrong with these transactions, It's a lot more
> complicated dealing with payments in another currency. I assume this means
> there's a good chance reports I generate will be wrong. One of the amounts
> (USD amount) is very small, but the one in HKD is not so small.
> 
> BTW, I was in the pub a couple of weeks ago, and somehow got chatting to a
> chartered accountant. I was telling him about issues when invoicing people
> in USD or Euros (my native currency is GBP). He said that I should not be
> billing people in anything other than GBP. I asked him whether he thought I
> was breaking the law in invoicing in USD and Euros, and he said that* in
> his opinion, it is against the law for me to invoice customers in anything
> other than GBP*. My accountant has never had a problem with this, but it
> obviously caused me to research it more. Our government website clearly
> states we can invoice in any currency. The only requirement is that if VAT
> is payable, then that amount needs to be in GBP. But it would be quite rare
> to invoice someone in USD if they are in the UK.
> 
> I'm pretty sure this guy in the pub was wrong, despite him saying he was a
> chartered accountant. From our own government website.
> 
> https://www.gov.uk/guidance/foreign-currency-transactions-vat-and-tour-opera
> tors
> 
> *You can invoice in any currency for the goods and services that you
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Re: [GNC] Entering Dividend Confusion

[Murugan Muruganandam]

I refer the following page and have been able to enter without any problems.



https://www.gnucash.org/docs/v4/C/gnucash-guide/invest-dividends1.html
9.8. Dividends - 
GnuCash
If the dividend is presented as cash, you should record the transaction in the 
asset account that received the money, as income from 
Income:Dividends.Additionally if you want to tie the cash dividend to a 
particular stock holding then add a dummy transaction split to the stock 
account with quantity 0 price 1 value 0.
www.gnucash.org



if you enter dividend directly outside the stock account, then it will not 
reflect in your Portfolio report.



Saludos Cordiales


Murugan


From: gnucash-user 
 on behalf of 
xboxboy.mageia+GnuCash 
Sent: Sunday, January 22, 2023 9:31 AM
To: gnucash-user@gnucash.org 
Subject: Re: [GNC] Entering Dividend Confusion

Thank you to all who have replied.

I attempted to enter a split transaction in the 'dividend' income page,
and then it vanished: I found it had transferred to the company stock
tab: It appeared to be correct, and the amounts ending up in the correct
accounts :)

So I was able to enter ALL the data for that stock, and then I was even
able to enter the final sale and scrub the account correctly.

I can not express how WILD, FRUSTRATED and angry I was with myself. But
it's now done, and I can always refer to that as a template/transaction
to copy.

Is there a function to 'lock' an account so it can no longer be edited
accidentally?

Thank you everyone, I really, really appreciate your patience and help.

On 22/1/23 18:57, Maf. King wrote:
> On Sunday, 22 January 2023 04:50:47 GMT xboxboy.mageia+GnuCash wrote:
>
>> Thanks: Now which page/account/ledger do I do this on? The dividend
>> income one? the company dividend income one? the company stock one??
>>
> When the dividends are being reinvested automatically, I enter the transaction
> in the relevant stock account.  I just find it easier to see with the number/
> price/value boxes in front of me.
>
> Instead of the usual approach of the cash to buy the shares being transferred
> from Assets:Bank, just transfer from Income:dividend[:etc] and also if
> requited ensure you have the split to show the tax credit too.
>
> HTH,
> Maf.
>
>
>
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[GNC] Start up cost in GnuCash

[Joel via gnucash-user]

Hello Gnucash, We are trying to figure out how to enter into gnucash the 
initial expenses or startup cost for the business we have been putting on our 
personal credit card to start this new business.
Thank you in advance for your help.
Taneshia and Joel
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Re: [GNC] Start up cost in GnuCash

[Stephen M. Butler]

This is a discussion you need to have with your CPA.  Involved are the 
following questions:


1.  Is this a sole proprietorship?  Partnership?  LLC?  Corporation?
2.  If a sole proprietorship, will the accounting be done in your 
personal books?  Or do you need a separate set of books for the business?

3.  Will the business refund you or are these your own expenses?

Only your CPA can guide you correctly.

--Steve

Stephen M Butler, PMP, PSM
stephen.m.butle...@gmail.com
kg...@arrl.net
253-350-0166
---
GnuPG Fingerprint:  8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8

On 1/24/23 11:18, Joel via gnucash-user wrote:

Hello Gnucash, We are trying to figure out how to enter into gnucash the 
initial expenses or startup cost for the business we have been putting on our 
personal credit card to start this new business.
Thank you in advance for your help.
Taneshia and Joel
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Re: [GNC] Is there any way to find all outstanding bills?

[Dr. David Kirkby]

On Tue, 24 Jan 2023 at 09:15, Geert Janssens 
wrote:

> Most likely you have created payments and bills independently of each
> other and never linked them. In that case your balances show 0, but the
> gnucash business logic doesn't know the bill is actually paid.
>
> There are a few ways to solve this. I propose to try this:
>
> * Open Business->Vendor->Process Payment...
>
> * Select the vendor that's listed in your payable ageing as having unpaid
> bills.
>
> * Select the proper "Post To" account. It should be different depending on
> the currency of the outstanding bills.
>
> => This should show a list of pre-payments and bills in the documents view
> that haven't been considered as processed by the business logic.
>
> * Use shift-click or ctrl-click to select one or more payments and bills
> that should be linked together.
>
> => If the payments and bills balance, the payment and refund fields should
> both be 0 and the "Transfer Account" list greyed out.
>
> * Click the Ok button to complete linking the bill(s) and payment(s).
>
> * Repeat for each of the vendors that appear to have unpaid bills.
>
> Hope that helps,
>
> Geert
>

This does not seem to be the case. I attached a few screenshots with
PORKBUN.COM
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Re: [GNC] Start up cost in GnuCash

[Murugan Muruganandam]

Congrats on your new business, without going into the norms, from the 
accounting perspective following is an option

Create an accounts payable account say Personal Credit Card

Dr Expenses:office supplies
Cr Ac Payabale: Personal Credit Card


Once your business pays back to you or credit card

Dr Ac Payable: Personal Credit Card
Cr Equity: Startupcost:



Saludos Cordiales


Murugan


From: gnucash-user 
 on behalf of Joel 
via gnucash-user 
Sent: Tuesday, January 24, 2023 4:18 PM
To: gnucash-user@gnucash.org ; j122...@aol.com 
; taneshia_wa...@aol.com ; 
freedmensoa...@gmail.com 
Subject: [GNC] Start up cost in GnuCash

Hello Gnucash, We are trying to figure out how to enter into gnucash the 
initial expenses or startup cost for the business we have been putting on our 
personal credit card to start this new business.
Thank you in advance for your help.
Taneshia and Joel
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Re: [GNC] Start up cost in GnuCash

[David Cousens]

Taneisha and Joel,

One way to track this would be to setup a dummy bank account for your personal
bank account for the business  and a dummy liability account for your personal
credit card  within your Gnucash accounts for the business. Keep these separate
from the GnuCash account corresponding to your actual business bank account and
credit card when you do set these up.

When you make a purchase for your business on your personal credit card  for $x,
you make a four split transaction as follows:

Asset:Bank Personal  Db  $x
Equity:Owner's Contribution'sCr $x
Liability: Credit Card Personal  Cr $x
Expense:as appropriate   Db $x

When you pay your credit card from your personal Bank account if $y is the total
of all purchases for the business

Asset: Bank Personal Cr $y
liability:Credit Card Personal   Db $y

The total  $y should be equal to the sum of all the $x amounts you made on
individual purchases so that at the end of a period when you have paid off the
credit card the net balance in Asset:Bank Personal goes to 0 and your purchases
have been recorded as contributions to equity of the business.

If the purchase was a capital purchase for the business then instead of an
expense account you would debit an asset account corresponding to the capital
item.

I recorded my personal contributions to my business this way when starting a
business many years ago and my accountant was quite happy but that isn't
necessarily a recommendation, as he was the reason I ended up doing a master's
degree in accounting.

When you have your business accounts setu,p you create new asset and liability
accounts for them. At that point you can hide (not delete) the dummy accounts
for your personal bank account and credit card.

David Cousens

On Tue, 2023-01-24 at 19:18 +, Joel via gnucash-user wrote:
> Hello Gnucash, We are trying to figure out how to enter into gnucash the
> initial expenses or startup cost for the business we have been putting on our
> personal credit card to start this new business.
> Thank you in advance for your help.
> Taneshia and Joel
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[GNC] Gift of stock

[Fred Tydeman]

Suppose, several years ago, I bought 100 shares of a stock for $5,000.
Now, I give these 100 shares to my son and they are now worth $30,000.

It seems to me that I need to show:
  Expenses:Gifts$30,000
That is the amount of wealth that I no longer have.
Also, that is the amount that goes on the gift tax return.

Since I made no profit, the "sale" of the 100 shares would be for $5,000.
Also, that amount would be the basis price for my son.

So, do I record the "missing" $25,000 as
  Unrealized Gain
  Lost Equity
  Something else

Looking in the Tutorial and Concepts Guide, I got two hits on "gift",
neither of which was any help for this.
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[GNC] Start up cost in GnuCash

[flywire]

Common advice is don't mix personal and business bank accounts but almost
everyone does with personal tax. You could do what you want with a business
account under each top-level account or bank account then report against
those accounts but it would be fiddly.

It is a classic class issue, ie one set of books, classify transaction
splits as required, and run standard reports on the class. As Adrien
Monteleone said a couple of days ago (
https://lists.gnucash.org/pipermail/gnucash-user/2023-January/105195.html
point 2 ), you can use any free-form 'tag' in your transactions but it is
only supported by the Transaction Report with filters.

You would likely be better off using software that supports classes. iirc
https://kmymoney.org/ does.
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[GNC] Gift of stock

[flywire]

I doubt your jurisdiction is that naive. I'd expect you'd pay tax on the
$25k capital gain on disposal and your son would have a $30k basis price.
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Re: [GNC] Gift of stock

[Liz Dodd]

On Wed, 25 Jan 2023 10:34:51 +1100
flywire  wrote:

> I doubt your jurisdiction is that naive. I'd expect you'd pay tax on
> the $25k capital gain on disposal and your son would have a $30k
> basis price.


I agree, you gave your son the equivalent of $30K, and you get to pay
tax on the capital gain.
However if your jurisdiction sees it as your son paying the capital
gain, then you gave him $5K in your books.

Liz
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Re: [GNC] Gift of stock

[David Carlson]

The US allows gifts to go untaxed within certain limits.   Capital gains
can get interesting as well.  If you're not certain,  talk to your
accountant.

On Tue, Jan 24, 2023, 6:48 PM Liz Dodd  wrote:

> On Wed, 25 Jan 2023 10:34:51 +1100
> flywire  wrote:
>
> > I doubt your jurisdiction is that naive. I'd expect you'd pay tax on
> > the $25k capital gain on disposal and your son would have a $30k
> > basis price.
>
>
> I agree, you gave your son the equivalent of $30K, and you get to pay
> tax on the capital gain.
> However if your jurisdiction sees it as your son paying the capital
> gain, then you gave him $5K in your books.
>
> Liz
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