[GNC] per diem expenses

[Murugan Muruganandam]

Alan

How you treat perdiem is a tax question. For registering purposes, if perdiem is also part of your monthly transfer, then you debit bank and credit income:Perdiem.
many states allow without furnishing bills if you are below fed thrushold, so your accountant can show this account as excluded from tax calculation.
if in case you need to show bills , suggest you register your food bills in a separate expense account so you can consider the same for tax purposes




Saludos Cordiales


Murugan

________________________________
From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf of Alan W Jackson <alanwjackson at comcast.net>
Sent: Thursday, December 15, 2022 4:28 PM
To: gnucash-user at gnucash.org <gnucash-user at gnucash.org>
Subject: [GNC] per diem expenses

Hi everyone,

I am new to GNUCASH and am working on my chart of accounts and journals
I am a owner op trucker and work with a single customer for now.
I use the customers credit card for all business expenses such as gas, tolls, trailer and truck expenses
Every week I receiver a payment document that details gross revenue, expenses down to net bank deposit
My question is how to record the $64/$69 food per day per diem.
The concept is to lower taxable income by the per diem amount, however it does not increase salary
So is the debit to per diem expense, the credit to ??????
What is GNUCASH recommended approach?
Is this a tax return issue only?


Alan W Jackson
706-816-2452


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