[GNC] How do you record the rounding of your netpay?

[R Losey]

As the others have noted, it may or may be not worth your time to track
this - but it is your decision.

The "Rounding" (better called "Paycheck Rounding") could probably be a
liability or an asset... possibly a sub-category of "Gross Pay" (I call
mine "Salary").  You should record both changes in the same account; if
you're using liabilities, you would credit (right-hand column) the Paycheck
Rounding by 50; the Second paycheck would have a debit (left-hand column)
of 50 and a credit of 70. If they are always rounding up, then perhaps it
makes sense as a liability.


On Sat, Jan 27, 2024 at 4:22 PM Oleander via gnucash-user <
gnucash-user at gnucash.org> wrote:

> Hi,
> suppose that today I received my first paycheck from my new company, I add
> this entries:
>
> First Paycheck
>
> Income:Gross Pay €-1799.50
>
> Expenses:Taxes €300
>
> Liabilities:Rounding €-0.50
>
> Assets:Bank:Checking €1500 ;; net pay
>
> €0.50 is just lent to me, the next month this amount will be charged from
> my gross pay along with taxes and if the result is a floating point number
> it will be rounded up to the next integer and so on.
>
> Now the questions are:
>
> 1) Is the above entry Liabilities:Rounding €-0.50 correct?
>
> 2) How do I record the amount that will be charged in the second paycheck?
>
> Second Paycheck
>
> ```
> Income:Gross Pay €-1799.80
>
> Expenses:Taxes €300
>
> ????? {€0.50 to be charged}
>
> Liabilities:Rounding €-0.70
>
> Assets:Bank:Checking €1500 ;;net pay
> ```
>
> -------- Original Message --------
> On Jan 27, 2024, 16:23, Maf. King wrote:
>
> > I don't have this sort of rounding arrangement on my paychecks, but I do
> have similar with one shareholding I have. I suggest you use GC to model
> reality, as far as possible.. Each paycheck gives you pennies of a
> liability (loan) from your employer. So use a liability account in your GC
> tree for "payroll rounding", and transfer into and out of that each cycle.
> HTH, Maf. On Saturday, 27 January 2024 08:17:03 GMT Oleander via
> gnucash-user wrote: > Hello everyone, > > how do you record the rounding of
> your netpay? > > After subtracting taxes from my gross pay, if the result
> of my net pay is a > floating point number, my company rounds this number
> up to the next integer > then credits the amount to my bank account. But
> the rounding is just a > loan, the next month it will be charged from my
> gross pay along with taxes > and if the result of my net pay again is a
> floating point number, it will > be rounded up to the next integer and then
> credited to my bank account and > so on. > > Eg: > > 1st Month > > Gross
> Pay = €1800.50 > > Taxes = €300 > > Netpay = 1500.50 --> 1501€ (amount
> credited to my bank account) > > 2nd Month > > Gross Pay = €1800.30 > >
> Taxes = €300 > > 1st Month Rounding = €0.50 > > Netpay = 1499.80 --> 1500€
> (amount credited to my bank account) > > Thank you >
> _______________________________________________ > 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.
> _______________________________________________
> 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.
>


-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8