Understanding the 'transfer' list of options...

[Derek Atkins]

Hi,

Expert_wannabe <GnuCash at pubmenu.com> writes:

> Firstly, a big thank you to both Colin and Maf for your replies.
> I really appreciate it.
>
> I've spent quite a few more hours 'playing' with this since posting.
>
> Maf...
> You mentioned that you put VAT items into somewhere and used 'split'
> I would assume that if I put an expense into e.g Expenses:VAT
> Purchases:Office, that it would automatically take 20% off and stick it
> somewhere else for VAT purposes!!
> Is that not the case? and if not, then do I have to do a 20% manual
> calculation for everything I do and move it to separate accounts?
>
> If I have to do that, then I'll probably go back to using Excel, it will be
> easier.....

It depends.  If you are hand-entering transactions then yes, you will
need to create the Splits manually.  It's really not that hard as
already explained, and lets you handle different percentages much easier
than an excel spreadsheet.  Also, GnuCash will be able to give you MUCH
more information back than Excel.  For example, it can break down your
income and expenses and show you how much you spent towards each
different expense category.

Moreover, if you choose to use the Business features (which does take
more work), you *CAN* set it up to automatically compute the VAT and
make the Splits for you.  But as mentioned, this is more work.  You have
to set up your Vendors and TaxTables.

In the end I think GnuCash can give you much more information than
Excel, once you get used to it.  However if you have an immediate
deadline then you might not have the time to crawl up the learning
curve.  In that case you might want to get your taxes done now and then
once that's done you can work in GnuCash for the next time.

> Thanks again
> Larry.

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available