Earmark fixed percentage of income for charity
Aryeh Leib Taurog
vim at aryehleib.com
Sat Jan 29 17:56:29 EST 2011
Mike or Penny Novack wrote:
> Aryeh Leib Taurog wrote:
>
>> Hi all,
>>
>> I'm just starting to use gnucash. I want to make sure that I give 10%
>> (exactly) of my income to charity. What's the best way to do this?
>>
> Aren't you over complicating this? Money in "fungible". You want to give
> to charity an amount of money that is 10% the amount of your income over
> some time period. It doesn't matter which of your current asset accounts
> the money given to charity comes from, does it? Your income check could
> be deposited in one account but a check for a donation to some charity
> to another. At times during the period you might have given more than
> 10% and at times less, but you'd need to check close to the end of the
> period that you have met your donation goal.
>
> You have an income account.
> You have a donations account.
> Surely in December (or whenever your fiscal year ends) you can check to
> see if the latter is 10% of the former, and if short, make additional
> donations to bring you to 10%. You need to automate a calculation that
> is no more than a shift of decimal point? You can't eyeball that?
>
> Michael
>
Yes, I see your point. I guess a report of my YTD income and
income-related expenses and YTD charitable contributions is all I
really need--but yes, if there is a way to automatically shift the
decimal point, subtract YTD contributions, and just tell me how much I
have left in my charity fund, I would really prefer that.
thanks,
Aryeh Leib
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