Insurance shared with employer
hampton-gnucash at rainbolthampton.net
Thu Jan 19 19:21:14 EST 2006
On Thu, 2006-01-19 at 16:32 -0500, Marc Tardif wrote:
> My employer shares payment of insurance with employees half and half.
> So, if insurance costs $100, my employer pays $50 and I pay $50. The
> problem is that I'm not sure how to account for these amounts.
> For example, lets say I have a salary of $1000. So, my employer adds $50
> for its portion of the insurance which makes my gross salary look like
> $1050. Then, I am deduced the full amount of the insurance $100 which
> brings me to $950.
> How do I account for my salary and insurance in GnuCash? Should I report
> $1050 as Income:Salary and $100 as Expense:Insurance:Benefits? Shouldn't
> I report $1000 as Income:Salary, $100 as Expense:Insurance:Benefits and
> something else for the $50 insurance paid by my employer?
I use accounts named Income:W2 and Income:Other. I would record this as
$1000 from Income:Salary, $50 from Income:Other, $950 to Assets:Checking
and $100 to Expenses:Insurance. YMMV.
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