How to split and/or set accounts?

[Maf. King]

Hi,

How about
Credit Card
Expenses:Vehicle:Vehicle1
Expenses:Vehicle:Vehicle1:nottaxable
Expenses:Vehicle:Vehicle1:taxable
Expenses:Vehicle:Vehicle2
Expenses:Vehicle:Vehicle2:nottaxable
Expenses:Vehicle:Vehicle2:taxable
....
....
ad nauseum.

Split your credit card transaction between 4 expense accounts,  Chart of 
accounts will show the total spent on all vehicles and individual vehicles, at 
tax time run a report to only get the taxable totals added together.

HTH
Maf.


On Tue 23 July 13 10:37:04 Niranjan Rao wrote:
> Thanks for the reply.
> 
> I am sorry I did not make it clear in my earlier mails, but this is not
> what want
> 
> Taking same example, I have to vehicle accounts, A and B. I track
> expenses related to vehicles (maintenance, repairs, taxes paid for
> vehicle) individual accounts.
> 
> So my credit card shows $1000 as a charge, I split the transaction
> appropriately and assign 500 to each vehicle. So far, so good.
> 
> What I would like to do "sub assign" if that's the word, this amount to
> taxes paid, so that when I check my tax account, I can still find these
> figures. In other words I am looking for a way to reach transaction from
> 3 different accounts, credit card, vehicle and taxes. If I go to vehicle
> account, I should be able to see all expenses I have made on the vehicle
> including taxes. If I go to my credit card, I should be able to see
> total charge and how that money was split. If I go to to my tax account,
> I should be able to figure out I paid xyz amount without digging through
> other accounts.
> 
> I am not expert in account and don't know if it makes sense from account
> perspective.
> 
> Regards,
> 
> Niranjan
> 
> On 07/23/2013 02:02 AM, Subramanian Venkateswaran wrote:
> > Hi,
> > 
> > Credit Card -> Liability Account
> > Vehicle -> Expense Account
> > Vehicle Taxes -> Expense Account
> > 
> > Let us assume you spent 1000 USD on your vehicles and 50 USD on taxes
> > and you have paid using your credit card.
> > 
> > You can directly go to your Credit Card Account and do the split in
> > the following way :
> > 
> > a) Increase Credit Card Account by 1050
> > b) Increase Expense Account -> Vehicle by 1000
> > c) Increase Expense -Account -> Tax by 50
> > 
> > Regards,
> > Subramanian V.
> > www.lifebytes.in <http://www.lifebytes.in>
> > 
> > 
> > On Tue, Jul 23, 2013 at 7:01 AM, Niranjan Rao <nhrdls at gmail.com
> > 
> > <mailto:nhrdls at gmail.com>> wrote:
> >     Greetings,
> >     
> >     Renewed registration for two vehicles today. I used functionality
> >     of shopping cart on DMV's web site to combine both payments as one
> >     credit card charge.
> >     
> >     I have split the transaction so that two accounts for vehicles get
> >     it's proper split.
> >     
> >     Here is the problem I am facing.
> >     
> >     I want to see details of this transaction at 3 locations:
> >     
> >     1. My credit card (My upcoming bill for credit card) - Total
> >     transaction
> >     2. Vehicle (So that I know how much I am spending annually on
> >     maintenance and taxes)
> >     3. Taxes
> >     
> >     Expense belongs to vehicle, however some part of the annual fee is
> >     tax deductible and I would like to keep track of taxes I am paying
> >     for future references.
> >     
> >     What is the best way to set up this kind of transaction. Currently
> >     split transaction shows under vehicle account as expense, but
> >     split shows the original transaction.
> >     
> >     Regards,
> >     
> >     Niranjan
> >     _______________________________________________
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-- 
Maf. King
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