[GNC] Reporting transactions

D. sunfish62 at yahoo.com
Thu Apr 30 11:32:46 EDT 2020


Christopher, 

I think the point Ruaraidh is making here is that *their* contribution isn't income-- not the government piece. I agree this can easily be handled in one file though. 


-------- Original Message --------
From: Christopher Lam <christopher.lck at gmail.com>
Sent: Thu Apr 30 19:57:36 GMT+05:30 2020
To: Ruaraidh Sackville Hamilton <ruaraidh.sh at gmail.com>
Cc: GnuCash users group <gnucash-user at gnucash.org>
Subject: Re: [GNC] Reporting transactions

On Thu, 30 Apr 2020 at 14:15, Ruaraidh Sackville Hamilton <
ruaraidh.sh at gmail.com> wrote:

> In my reply I replaced your "Income:Me" with "Assets:my bank account". The
> point is that, when the SIPP is in the same GC file as my other assets, the
> transaction is from one asset (the bank account I used to pay into the
> SIPP) to another asset (my SIPP). It's not from an income account to the
> SIPP, so it can't appear in a report of income.
>

It *can and should* appear in an Income report; you are enjoying a
government contribution and your net worth increases as a result. It should
be present in your main datafile. It's not taxable income, so, you are
allowed to ignore it in your annual returns.


> If I keep the SIPP in a separate dedicated GC file, then no problem: my
> contribution appears in the main GC file as an expense against my bank
> account and as an income in the SIPP GC file. I just wondered if there was
> a way of keeping all assets in one file.
>

Generally you wouldn't use two files for this case.
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