[GNC] About bookkeeping and claiming non-currency expenses.

David Carlson david.carlson.417 at gmail.com
Fri Apr 17 11:38:49 EDT 2020


This is definitely not " a method to record this data safely (i.e.
satisfies the
accounting equation...) in the datafile, suitable for audit?" but a trick
that I have used for years is to create special accounts under a
placeholder I call _Non-Cash Expenses for _Mileage-Medical and
_Mileage_Charity .  Then, when I drive to the doctors office I will include
in the Co-Pay transaction a split line for the mileage. I also need a
non-cash-income collector account to offset those expenses but it helps me
at tax time to know how those miles add up.  Once I tried to create custom
currencies for those so I could assign exchange rates for reimbursements
that could change when the reimbursement rates changed, but that got too
complicated for a retiree.

On Fri, Apr 17, 2020 at 9:50 AM Christopher Lam <christopher.lck at gmail.com>
wrote:

> This question is for the resident accountants and bookkeeping.
>
> As we know if our book has *complete and* *perfect* information, the
> reports make accountant very happy.
>
> But there are numerous tax deductions allowed, that don't necessarily
> belong in the book. For example:
> - claiming mileage in dollar per km for business travel
> - claiming home running costs (e.g. claiming $0.80/hour working from home
> allowance)
> - further examples welcome. etc.
>
> Do bookkeepers have a method to record this data safely (i.e. satisfies the
> accounting equation...) in the datafile, suitable for audit?
>
> Thanks!
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-- 
David Carlson


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