[GNC] Set up GnuCash to track monthly net income considering taxes and pension fund contributions

[Christopher Lam]

The only mechanism that really exists to have "templated arbitrary
formulas" is to use the periodic Scheduled Transactions. It would be nice
to have them created ad-hoc (ie menu item Create Transaction from Template
which pops up a list of available templates)  instead of periodically...

On Sat, 25 Sep 2021, 5:34 pm Simone Gaiarin, <simgunz at gmail.com> wrote:

> Thanks for the reply Rich.
>
> My main question is: is there a way to automate these calculations in
> GNUCash or for each transaction I need to compute and input each component
> of the income by hand?
> I have read the GNUCash documentation but I was not able to figure out if
> this is possible or not.
>
> On Sun, Sep 19, 2021 at 8:32 AM Simone Gaiarin <simgunz at gmail.com> wrote:
>
> > Hi all,
> > I need help in setting up GnuCash to achieve the following goal:
> > - Track my monthly net income (after taxes and pension fund contribution)
> >
> > Situation:
> > I give a service that I invoice per hour and the cost paid by the
> customer
> > consists of the following components:
> >
> > x: Cash payment = y + p1
> > y: Service gross cost
> > p1: 1st pension fund contribution = 0,02 * y
> >
> > On y I have to pay also:
> > t1: tax I have to pay = 0,05 * y
> > p2: 2nd pension fund contribution = 0,10 * (y - t1)
> >
> > Accounts:
> >
> > - Income
> >
> > - Bank Account
> >
> > - Tax
> > - Pension fund
> >
> > Given that I pay out of my bank account the taxes twice a year and the
> > contribution to the pension fund twice a year, the 'Income chart' report
> > does not give me a clear view of my net income over the month.
> >
> > I tried to set up a tax table where I used some equivalent coefficients
> in
> > order to automatically assign t1 to Tax account and p1, p2 to the Pension
> > fund account (rather difficult given that here the tax and pension fund
> are
> > computed in cascade), but I wonder if this is the correct strategy (the
> > Pension fund account goes negative instead of positive for example).
> >
> > What is the correct way to proceed in order to obtain a monthly net
> income
> > chart considering the taxes and pension fund contribution percent over
> each
> > customer payment?
> >
> > Thanks
> >
> >
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