How to handle a sales tax rebate?

Liz edodd at billiau.net
Sun Jan 24 14:58:22 EST 2016


On Sun, 24 Jan 2016 08:08:07 -0400
Greg Skelhorn <gskelhorn at eastlink.ca> wrote:

> 
> 
> On 16/01/23 23:46, Liz <edodd at billiau.net> wrote:
> > 
> > On Sat, 23 Jan 2016 09:49:00 -0400
> > Greg Skelhorn <gskelhorn at eastlink.ca> wrote:
> > 
> > > If you are still reading... Thanks!
> > > Any guidance will be greatly appreciated.
> > 
> > Actually I skipped down to here....
> 
> Yes, I felt as though I was becoming to long winded with the
> explanation... :-)
> 
> > 
> > Work all this out on paper (real paper) and set things out. Check
> > with the accountant.
> > 
> > When that is worked out you can let us all here know and we can help
> > you set up the program to replicate the paper version.
> > 
> > Liz
> 
> This is certainly great advice and I will follow it. Before I do,
> however, I would like to explore the Gnucash more. Could you answer a
> couple of questions for me?
> 
> The account structure is not important to me at this point. I will
> continue using the spreadsheet system until the end of March 2016.
> 
> The source information I see can be any of:
> - an actual itemized invoice,
> - the total paid including full tax,
> - the cost of service before tax, or
> - the rebated transaction total.
> 
> With my spreadsheet I can input any of the above values and have the
> other columns filled automatically. I can also see each of the values
> when a question arises later and when reconciling against the
> quarterly statement.
> 
> Is it possible to use Gnucash in a manner that will allow me to see
> each value? If possible, do you expect it will add a lot of
> complexity? Should I expect to use a uniform input? (i.e. use desktop
> calculator to calculate pre-tax cost and rebate amount)
> 
> There are many things I do not like about using a spreadsheet so I
> can give up some of the input convenience if required. Where we are a
> volunteer group I would like to keep things as simple, useful and
> robust as possible so if I need to hand over to someone else they can
> continue using it... Sounding like a idealist now ;-)
> 
> Thanks.
> 


The entries in Gnucash could be done in several ways. You can enter
them from either "side" of the double-entry. 
The way of recording the entry involves using splits. As everything
comes from one account (MunAcc) to pay all the other invoices, the
splits are easier.

The split will allow you to see 
Total Invoice = [Service Before Tax] + [Tax rebated] + [Fraction of tax
we don't get]
Each of these will need their own account in the hierarchy, and I
suggest, each group will need it's own Tax Rebated account.
I think that the unrebated amount could go into a single account, but
I'm not sure there.

The reporting system then allows you to make all the needed reports.
You would customise them and save them.

You don't need a desktop calculator for the amounts, as Gnucash will do
standard arithmetic inline eg unrebated fraction = X / 100 *15 /100
*12.5 You put in the calculation, () can be used to do additions first,
and Tab or Enter will complete it. In a split Enter leads to finishing,
so Tab or Up arrow is safe.

Liz


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