[GNC] Net Worth Barchart

[Geoff]

Hi Liz

I think the other side of that liability entry should be something like 
"Expenses:Company Tax".

Regards

Geoff
=====

On 6/12/2022 5:01 pm, Liz wrote:
> On Tue, 6 Dec 2022 15:40:06 +1100
> Chris Grinton <cgrinton at gmail.com> wrote:
> 
>> The charts suggest that you have *negative* liabilities. That is,
>> while the underlying accounts may have a type of "Liability", the net
>> balance of these accounts is negative, so are effectively an asset.
>>
>> For "normal" positive liabilities, the red bars in the chart would be
>> above the $0 line as per the attached screenshot.
>>
>> Chris
> 
> 
> I accept that there is likely a logical fault in my account setup.
> 
> I'm not sure how or where, certainly when I pay my tax out of the bank
> account my liability for paying tax goes down.
> 
> 
> So at the end of the month I enter a transaction by scheduled
> transaction to list my wages, tax and super payments. That transaction
> results in an increase in my Tax liability account, which when I pay up
> a few weeks later, the liability decreases.
> 
> But what I have done, which I'm sure is my problem, is I haven't got
> the tax payments going to the correct logical place but recursively I
> have hurriedly filed them under tax liabilities.
> So my liabilities in my books are increasing regularly instead of being
> zeroed.
> This payment is the amount which the tax people tell me I'm going to
> pay to account for my company tax. They ask for 4 payments each year,
> and then the accountant sorts out annually what else I have to pay.
> 
> So I think it comes to....
> What are appropriate splits for the prepayment of my company tax? One
> side is tax liabilities, and the other I can't work out.
> No use Michael telling me that I need to decide what I would do on
> paper, I'm lost.
> 
> Liz
> 
> 
> 
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> To update your subscription preferences or to unsubscribe:
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.