[GNC] Reporting transactions

[D.]

???

Perhaps this is a terminology thing, but aren't you just re-presenting the second option I gave originally? 

Think of it another way: there are two sources for the funding of your SIPP: your contribution, and the government's. How you handle your own contribution depends on your workflow; the government is giving you money, so that's an income account. I offered two methods of recording that two-step; yours is a repetition of my second method. 

I personally use the first, since the two events are inextricably linked (the second never happens without the first).

Or am I missing something? 

David


-------- Original Message --------
From: Ruaraidh Sackville Hamilton <ruaraidh.sh at gmail.com>
Sent: Thu Apr 30 17:20:34 GMT+05:30 2020
To: "D." <sunfish62 at yahoo.com>
Cc: Gnucash Users <gnucash-user at gnucash.org>
Subject: Re: [GNC] Reporting transactions

That covers it if the SIPP is in a separate GC file of its own, where my
contribution is an income (and an expense from my bank account in the main
GC file, which I use to fund the contribution).

But if it's all in one GC file we have

01-01-2020 SIPP Contribution   Assets:SIPP  £100
My contribution          Assets:my bank account          £100

01-01-2020 SIPP Govt Contribution   Assets:SIPP  £25
Government contribution Income:GovContrib £25

Am I wrong?

Ruaraidh

On Thu, 30 Apr 2020 at 12:33, D. <sunfish62 at yahoo.com> wrote:

> Set up an independent income account for the government contributions:
>
> Income:GovContrib
>
> Then add either a split to your contribution for the government,
>
> 01-01-2020 SIPP Contribution   Assets:SIPP  £125
> My contribution          Income:Me          £100
> Government contribution Income:GovContrib £25
>
> or a separate transaction,
>
> 01-01-2020 SIPP Contribution   Assets:SIPP  £100
> My contribution          Income:Me          £100
>
> 01-01-2020 SIPP Govt Contribution   Assets:SIPP  £25
> Government contribution Income:GovContrib £25
>
> That should cover it, yes?
>
>
>
>
> -------- Original Message --------
> From: Ruaraidh <ruaraidh.sh at gmail.com>
> Sent: Thu Apr 30 15:17:04 GMT+05:30 2020
> To: gnucash-user at gnucash.org
> Subject: [GNC] Reporting transactions
>
> I have another question related to UK tax reporting obligations.
>
> In the UK we can have a type of asset called a SIPP (Self-invested Personal
> Pension). You pay money into a SIPP with the idea of building up an income
> for your retirement. The carrot is, you get a tax rebate. For example if
> you
> pay 100 GBP into the SIPP, the government pays in another 25 GBP.
>
> For our annual tax reports, we have to report the total added to the SIPP
> during the tax year: the amount we pay in personally, plus the amount that
> the government pays in, i.e. 125 GBP in the above example.
>
> This is easy to do if I keep the SIPP in a separate GC book. Then all
> personal contributions and the Government's additional contributions can be
> put into the same income account. Easy. What's not so good is that (a) I no
> longer have an overview of all assets in one book and (b) to do my one tax
> report I have to do two separate GC tax reports.
>
> Is there a better solution? Either something that allows me to keep
> everything in one book, or a way that allows reports to query two books?
>
>
>
> --
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