Invitation: cash based tax declaration; was: How to configure tax tables for GST

David Goodenough david.goodenough at linkchoose.co.uk
Mon Nov 15 04:37:05 EST 2010


On Sunday 14 November 2010, Frank H. Ellenberger wrote:
> Am Mittwoch, 10. November 2010 um 18:14:37 schrieb Derek Atkins:
> > Hi,
> > 
> > Glenn Ramsey <gr at componic.co.nz> writes:
> > > Hi,
> > > 
> > > I am planning to migrate from MYOB to Gnucash for my small business
> > > accounting and would like some clarification on how to configure
> > > Gnucash to calculate New Zealand GST.
> > > 
> > > The 3-account naming scheme in the FAQ [1] looks like it will suffice
> > > for my needs. The FAQ says (I think) to set up a single tax table for
> > > GST, but is not clear on which account to select for the GST tax table
> > > entry.
> > > 
> > > By experimenting I see that if there is only one tax table entry for
> > > GST then the GST amount for both invoices and bills gets put in one
> > > account with GST collected and GST paid appearing as a decrease or
> > > increase respectively. Therefore, I assume that different tax table
> > > entries are required for income and expenses as described in [2]. Is
> > > that correct?
> > 
> > Generally, yes, you use different tax tables for Invoices and Bills.
> 
> If there are two - or more, like in Germany - different fields in your tax
> form. you should have the corresponding number of accounts.
> 
> So, feel free, to improve the wiki.
> 
> > > Also in New Zealand we have the option of calculating GST using 
either
> > > an invoice basis or a payments basis. The above setup seems to be
> > > relevant for an invoice basis. If using the payments basis the GST
> > > amount should not go into the Liabilities:GST account until the
> > > payment is made or recieved. MYOB does this (I think) by posting the
> > > GST amount to Receivable and Payable and then transferring it to the
> > > GST account when the payment is made. Is it possible to have such a
> > > setup in Gnucash?
> > 
> > GnuCash does not support Cash-based accounting with the business
> > features.
> 
> Last night I opend https://bugzilla.gnome.org/show_bug.cgi?id=634732 
"Allow
> VAT/GST taxation based on payment date instead of invoice date". 
Currently
> I am interested in the question:
> 
> Are there more countries, which need this feature?
In the UK small companies can opt for either invoice date or payment
date accrual for VAT.

David
> 
> If yes, please add them there.
> 
> > > Thanks
> > > Glenn
> > > 
> > > References:
> > > [1]
> > > 
http://wiki.gnucash.org/wiki/FAQ#Q:_How_do_I_handle_VAT.2FGST_on_invoic
> > > es
> > >
> > >.2C_and_claim_VAT.2FGST_rebates_on_purchases.3F [2]
> > >
> > > http://gnucash.wikia.com/wiki/Create_Tax_table_for_VAT
> > > [3]
> > > http://lists.gnucash.org/pipermail/gnucash-user/2009-
April/029189.html
> > > 
> > > Please remember to CC this list on all your replies.
> > > You can do this by using Reply-To-List or Reply-All.
> > 
> > -derek
> 
> Frank
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