GnuCash Income - How to manage?

Aaron Laws dartme18 at gmail.com
Thu Jul 9 09:40:22 EDT 2015


On Wed, Jul 8, 2015 at 7:09 PM, John R. Sowden <jsowden at americansentry.net>
wrote:

> I see someone caught the DR CR reversal.  Debit (DR) an asset (Cash) to
> increase it, Credit (CR) an asset to decrease it.  Another point:  Income
> tax withholding should be an asset of yours (and a liability to the
> government), after all that money is yours, not the government's, until the
> return is filed and to tax is paid.  This way you will have an entry of the
> actual income tax bill in your gc records.  You just deduct the withholding
> amount from the total tax and that is what you pay, or if the withholding
> is more, then that is what you expect back, otherwise all you records show
> is a series of payments (on your paycheck) and the balance at the end.
>
> John


Yup, all of this is good advice. Thank you Mr. Longstaff for the DR CR
correction.

In short, I think nvsoar's advice is the best. Read the very fine
manual(s). Enjoy!


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