How do I assign US Schedule C tax categories to transactions

[David T.]

--- On Tue, 5/3/11, Leslie Hendelman <lesliehendelman at gmail.com> wrote:

> From: Leslie Hendelman <lesliehendelman at gmail.com>
> Subject: Re: How do I assign US Schedule C tax categories to transactions
> To: gnucash-user at gnucash.org
> Date: Tuesday, May 3, 2011, 10:50 AM
> Dear Alex:
> Thanks for the message.  What I understand about that
> is to set up
> individual Expense accounts and Income accounts for each
> (usually
> repetitive) item, for example, cell phone, office rent,
> cleaning, etc.,
> supplies, and 1099 Income, individual patient pay income,
> etc.
> Then, after importing transactions to my bank accounts, I
> can use these
> other accounts to assign "splits".
> 
> When you talk about "splits" you lose me.  I don't
> know what that means.  On
> a typical, for example, Quicken-type, transaction, a split
> is an amount that
> is assigned to a certain category, like the amount of a
> deposit is $1,000,
> and there are 3 splits, $300, $500 and $200, which are
> individually "split"
> off.  Is that what you mean?
> thank you,
> Leslie

Leslie--

That is what Alex meant. Quicken "categories" equate (essentially) to Gnucash "accounts". For an explanation of Gnucash splits, see http://svn.gnucash.org/docs/guide/txns-registers1.html

You might also read the Guide in general, as it introduces a lot of concepts that help users understand Gnucash better.

David

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