Does 1.7.7 have payroll tax withholding?

[Matthew Vanecek]

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On Sat, 2003-01-18 at 21:17, Michael D. Crawford wrote:
> I desperately wish to stop using QuickBooks and start using GnuCash for m=
y=20
> consulting business.
>=20
> But to be able to do so, I need to be able to account for payroll tax wit=
hholding.
>=20
> It's OK if it doesn't actually calculate the withholding, as I already do=
 that=20
> in a spreadsheet.  (I was never willing to pay for Intuit's tax table=20
> subscription service, as I was offended at the notion that I should have =
to pay=20
> for what the government gives away for free.)
>=20
> It's OK if I have to calculate the withholding myself and enter it manual=
ly.=20
> But I need it accounted for.
>=20
> What I need to do is enter a gross paycheck amount, and deduct various ta=
xes=20
> that would increase in tax liability accounts.  Writing the actual checks=
 to=20
> the government would decrease the tax liabilities.
>=20
> The gross amount minus the deductions would be the amount the employee's =
check=20
> would actually be written for.
>=20
> I would need to be able to report the total amounts of the gross and=20
> withholding at the end of the year.
>=20
> But further I need accounts for employer contributions that aren't withhe=
ld.=20
> These would be the employer's portion of social security and medicare, an=
d=20
> unemployment insurance.  These are simply added to the tax liability acco=
unts=20
> as each paycheck is written.
>=20

Well, you can actually do all that in 1.6.8--it's just a bit manual.=20
You only need to set up the appropriate expense accounts.

I'm not sure if 1.7.x has the capability of automatically creating the
appropriate accounts, nor if it can do the payroll stuff automatically.=20
However, I track all that stuff in my paycheck (from the opposite side
of course).  I still treat FICA, Medicare, etc., as expenses, and each
paycheck just adds  to the expense accounts.

It's all just a matter of setting up the appropriate accounts. 1.6.8
won't have the level of automation, of course, that Quickbooks may have
(I don't know since I don't use Quick*).  1.7.7 does have a good amount
of new business stuff.  You may want to check in on the #gnucash IRC
channel on irc.gnome.org, or post a note to gnucash-devel.  That's where
you can find the business functions developer.  Unless someone here has
more info...

> I would switch over in an instant if 1.7.7 could do that.  If you tell me=
 that=20
> it does I'll start working at testing it with my real books.
>=20
> Thanks,
>=20
> Mike
--=20
Matthew Vanecek
perl -e 'print $i=3Dpack(c5,(41*2),sqrt(7056),(unpack(c,H)-2),oct(115),10);'
***************************************************************************=
*****
For 93 million miles, there is nothing between the sun and my shadow except=
 me.
I'm always getting in the way of something...

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