Help on spliting wages

[Maf. King]

On Monday 05 October 2009 15:05:42 Maf. King wrote:
> On Monday 05 October 2009 14:10:02 Kim Jones wrote:
> > Hi,
> > I’m new and sorry to say, I am having a huge amount of trouble
> > understanding how I enter my salary which I want to split.  I want to
> > track everything.  I have tried studying the GNUCash contents help file
> > and the Tutorial and Concepts Guide but I just can not  seem to get it to
> > make sense to me.  I want to split my salary into:
> > 1.	my base hourly rate
> > 2.	extra hours
> > 3.	super salary sacrifice (I make an extra contribution into my super
> > fund) 4.	PAYG withholding(government income tax)
> > 5.	superannuation (which is part of my salary which my employer pays). I
> > guess you know that
.
> >
> > So would someone please be kind enough to help me.  Do I have to enter my
> > salary into the Equity: Opening Balance account first and then have that
> > transferred into my Everyday Access account which is my bill paying
> > account and split my salary there?  or do I do the split in the Equity
> > account first?
>
> Hi Kim,
>
> Equity:opening Balance won't come into this at all.  I assume that Super
> Salary Sacrifice and Superannuation are something like pension
> contributions made by you and your employer, which are tracked into some
> asset account. They may just as well be expenses, I don't know.
>
> You need a split transaction which looks something like this:
> Income:BaseHours                             $500
> Income:ExtraHours                             $300
> Income:Superannuation                      $100
> Expenses:Tax:PAYG     $200
> Assets:SSS                    $50
> Assets:Superannuation  $100
> Bank:checking                $650
>
> HTH,
> Maf.

Edit:  Bank:checking should be $550. sorry...
Maf.



-- 
Maf. King
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