Fwd: gnucash

[David T.]

Rachel--

The documentation for how to set up Gnucash to enable tax reporting is hidden in Chapter 9 of the help manual: http://www.gnucash.org/docs/v2.4/C/gnucash-help/set-tax-options.html

Basically, for each account, you select Edit->Tax Report Options, locate the account you want to associate with a tax code entry (for example, Expenses:Tax:Federal), select the tax code entry that is appropriate (in this example, W-2 Box 2) and save the settings. 

You need to save the settings for each tax code entry one at a time, unfortunately; you can't go through your entire Chart of Accounts, make the links and then save everything at once. Don't forget to set the tax options for deductions, as well! 

I believe that it is possible to simultaneously associate multiple accounts with a single tax code line (as, for example, when you have separate dividend accounts that would all be associated with one tax code line), but don't hold me to that. In this case, you would select the accounts all at once and set them to the single tax code line.

The one good thing about this process is that you do it once, and then it's done. You only have to muck around again if you have new accounts to work on.

Once you've assigned your accounts, you can then run the Tax Schedule Report and see the results. 

Typically, I will edit the options on this to remove transaction detail; this way I have a tax report summarizing numbers by account. I then double check this with the documents I receive from employers and other sources. Once everything looks good, I export as a TXF and go from there. If you are having someone do your taxes, you can print out your summary report.

HTH,
David





________________________________
 From: Rachel <rachelgoodpeople at aol.com>
To: Derek Atkins <derek at ihtfp.com> 
Cc: "gnucash-user at gnucash.org" <gnucash-user at gnucash.org> 
Sent: Tuesday, January 15, 2013 1:33 PM
Subject: Re: Fwd: gnucash
 
Yes, I am in the US. How can I set up a tax report for that?


On 1/15/13 4:25 PM, Derek Atkins wrote:
> Hi Rachel,
>
> GnuCash is not a tax application.  It does not have "tax forms" to print
> out per se.  So I'm afraid if you wanted that, GnuCash is not the tool for
> you.
>
> Having said that, if you are in the US or Germany then you can set up the
> GnuCash "Tax Report" which can output a TXF file that you can import into
> a tax program like TurboTax or Tax Cut.
>
> I hope this helps,
>
> -derek
>
> On Tue, January 15, 2013 3:58 pm, Colin Law wrote:
>> I am forwarding this to the list as you accidentally just sent your reply
>> just to me.  When replying to the list you have to use Reply to All or
>> Reply to List).
>>
>> ---------- Forwarded message ----------
>> From: Rachel <rachelgoodpeople at aol.com>
>> Date: 15 January 2013 20:52
>> Subject: Re: gnucash
>> To: Colin Law <clanlaw at googlemail.com>
>>
>>
>>   Thank you,
>> I can't seem to find how to print out tax forms though.......
>>
>> I don't use it for that so can't really help.  The first thing to do would
>> be to tell us which country you are in as tax forms will vary widely.
>> Perhaps someone will be able to help then.
>>
>> Colin
>>
>>
>>
>>
>>
>> On 1/15/13 3:45 PM, Colin Law wrote:
>>
>> On 15 January 2013 16:20, Rachel <rachelgoodpeople at aol.com>
>> <rachelgoodpeople at aol.com> wrote:
>>
>>   HI, I am new to this and just started using this software for my small
>> business.
>> Is there anywhere I can find some tutorials? How would I print the forms
>> for
>> taxes?
>>
>>   If you click on Help in gnucash you should see Tutorials and Concept
>> Guides (or something similar) there.
>> Alsohttp://wiki.gnucash.org/wiki/GnuCash has some good stuff.
>>
>> Colin
>>
>>
>>
>> --
>>
>> --
>>   <http://www.rootsandrocks.net>
>> _______________________________________________
>> gnucash-user mailing list
>> gnucash-user at gnucash.org
>> https://lists.gnucash.org/mailman/listinfo/gnucash-user
>> -----
>> Please remember to CC this list on all your replies.
>> You can do this by using Reply-To-List or Reply-All.
>


-- 

-- 
<http://www.rootsandrocks.net>
_______________________________________________
gnucash-user mailing list
gnucash-user at gnucash.org
https://lists.gnucash.org/mailman/listinfo/gnucash-user
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.