Income tax - personal accounts

[BenoitGrégoire]

On July 26, 2003 10:09 am, Aldous Everard wrote:
> I have a very basic question which I can't find the answer to in the
> Gnucash Guide How do I enter income tax for my personal accounts?  Does
> this go into the equity section, and if so when I enter it there, which
> account does it balance with?

Income tax payed is an expense.  So usually, you would have a transaction from 
your checking account to Expenses:Income taxes.

A tax return on the other hand, would be the exact opposite (Expenses:Income 
taxes.-> Checking).  That's not the only way to do it, and it's strange 
pulling money from an expense account, but I prefer this way because it will 
not skew your total income for the year.

-- 
Benoit Grégoire
http://step.polymtl.ca/~bock/