2019-01-23 GnuCash IRC logs
00:06:33 <jralls> lucid_gem: I'd base it on how you do your taxes. If you have a separate tax id and file a separate return for the business then you should absolutely keep separate books. If you file your business taxes on your personal return (schedule C in the US) then you can consider a single set of books, especially if you also use your personal bank account and credit card for business expenses.
00:08:37 <lucid_gem> thanks! i have separate bank accounts, but i do declare everything on my personal taxes. (yep, in the US.)
00:08:38 <jralls> lucid_gem: But because local rules can vary a lot, we always recommend that business owners consult a licensed professional in their jurisdiction. The cost is money well spent in keeping the tax man off your back.
00:08:55 <lucid_gem> thanks
00:09:43 <lucid_gem> i think i'm going to start getting my feet wet just managing my cash on hand using gnucash, and then maybe add in additional accounts... although i've also gotten advice previously that it's better to set everything up from the outset. what's your opinion on that?
00:10:59 <jralls> Having separate bank accounts tips the scale toward separate books. And it's definitely easier to start off with separate than to try to untangle it later.
00:12:57 <lucid_gem> ah, ok...
00:13:46 <lucid_gem> is it possible to generate and export reports that can then be combined (e.g. by CSV or other export format) to easily combine data from both sets of books for viewing and manipulation in another editor?
00:14:09 <lucid_gem> i'm impressed by the feature set, and also a bit daunted by the reputation that gnucash has a steep learning curve.
00:14:29 <jralls> There's a psychological advantage to separate books as well: It makes it a lot harder to fool yourself about using business money for personal or (more likely for a sole proprietorship) subsidizing the business from other funds.
00:15:18 <jralls> No, there's no facility for combining them, and you don't want to. You want to make it very clear when money flows between personal and business.
00:16:05 <jralls> The steep learning curve isn't GnuCash, it's learning the accounting methods and rules that underly it. Once you understand those GnuCash is pretty obvious.
00:17:29 <jralls> An introductory bookkeeping/accounting course is invaluable for small business owners, even if you have a CPA looking over your shoulder: It helps you to speak the same language as the CPA.
00:18:47 <lucid_gem> gotcha, thanks-- that's good advice, and i haven't gotten into it yet in a course format, just picking my way through software and adapting from single-entry to double-entry accounting...
00:19:05 <lucid_gem> i guess i meant for exporting the data for the purposes of filing taxes at the end of the year...
00:19:23 <lucid_gem> but i guess it would be as simple as exporting PDF or HTML reports and copy-pasting the results into a spreadsheet
00:20:07 <lucid_gem> i'll keep your advice in mind about bookkeeping and accounting, i'm blessed by being in a relatively simple service business, but it's true that understanding how to look at the bottom line is helpful...
00:20:22 <lucid_gem> and i will probably end up doing more complicated business ventures in the future, so it's good advice for that, too
00:20:40 <jralls> There's a TXF report for creating an import to TurboTax, but I don't know if it handles schedule C. I generally just run an Income (aka Profit-and-Loss) report and type the numbers in the right places.
00:20:55 <lucid_gem> thanks a lot for your help, it's nice to see a FLOSS product being actively developed and supported in this way.
00:21:09 <lucid_gem> gotcha.
00:21:56 <jralls> You're welcome, we try. There's a really good user community on our user mailing list, gnucash-users@gnucash.org. Several experienced small business owners to give advice.
00:22:58 <lucid_gem> cool, thanks!
00:23:18 <lucid_gem> and again, thanks a lot for your help— I'll give gnucash some more effort and see what I come up with. ☺
00:25:02 <lucid_gem> bye- have a good night (or morning, depending on where you are. ;) )
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02:46:30 <gjanssens> .
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06:38:54 <chris> .
06:38:54 <gncbot> chris: Sent 19 hours and 3 minutes ago: <jralls> I've replicated the date-format problem on Debian stretch so I can debug it directly. Weird that it works some places but not others.
06:42:14 <chris> looking forward to test-gnc-date fix
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07:12:50 <chris> (jralls needs to remember to do full rebuild everytime while debugging gnc-date)
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08:20:14 <warlord> chris, that seems to imply a missing build dependency.
08:25:31 <chris> i know, but i don't speak CMake
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08:25:50 * chris looking at price-quotes.scm and wonders if the perl stuff can be removed :-/
08:26:02 <chris> guile has web client
08:26:26 <warlord> chris, you would have to rewrite F::Q completely -- and it IS used by other packages.
08:26:32 <chris> lol
08:27:05 <chris> it would be cleaner though, guarantee (* not guaranteed)
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09:49:12 <gjanssens> chris: and gjanssens wonders whether we can't remove the guile wrapper around finance quote ;)
09:49:33 <gjanssens> Too many scripting layers stacked on top of each other...
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10:14:41 * chris actually wants to hook to a menu item e.g. for my own OFX importer ;-)
10:14:55 <chris> it'd be good practice to write PEG parser in scheme
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