How to best keep track of tax liabilities of a sole proprietorship

Chris Smith chris at cgsmith.net
Tue Jan 9 20:04:41 EST 2018


I am using GnuCash for my freelance business. My dad always taught me to
set 30% of a check aside for the government's share.

How would you enter this to keep track of the tax liability? I am thinking
I'd have to enter it against my *Income:Sales* account as a transfer to
*Liabilities:Tax*

I figure at the end of the year *Asset:Checking Account* can transfer to
satisfy the true Tax liability.

One thing to note, I *don't* want the liability to effect reports on sales
reports. :/

Am I just overthinking this?

--
Chris
<chris at cgsmith.net>


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