GnuCash vs. Quicken

[Rich Shepard]

On Thu, 5 Dec 2002 deane@mjollnir.gooroos.com wrote:

> Shouldn't you be *debiting* the withheld taxes?  After all, by being
> withheld, they represent taxes which you've now paid, so your tax liability
> for the year has decreased and liabilities are decreased by a debit.

  Yup. I wrote that I'm not an accountant :-) and I was putting this
together quickly. It didn't look right, but the point I was trying to make
is that when you put your gross amount in an income account gnucash will
then let you make a split transaction of withheld taxes and net income to
the appropriate accounts. As you do this the proper column is easy to see.

  I let my accountant handle the taxes (and the business pays them), so I've
always entered only gross pay. But, it can be done either way.

Thanks,

Rich

Dr. Richard B. Shepard, President

                       Applied Ecosystem Services, Inc. (TM)
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