[GNC] [newbie] how to treat a gift?

[Steve Butler]

Not if you want to match what you need to file taxes.  You do want to start
with gross and keep track of the deductions -- especially the taxes
withheld.

On Tue, Sep 3, 2024, 14:55 Kalpesh Patel <kalpesh.patel at usa.net> wrote:

> Couldn't one can elect to track paycheck by net rather than gross?
>
> -----Original Message-----
> From: Gyle McCollam <gmccollam at live.com>
> Sent: Tuesday, September 03, 2024 3:27 PM
> To: David Warren <david at warren1.net>; Boniforti Flavio <
> boniforti.f at gmail.com>
> Cc: gnucash-user at gnucash.org
> Subject: Re: [GNC] [newbie] how to treat a gift?
>
> Don't forget on the paycheck, you also have to debit all the withholding
> accounts as well. Your salary is more than what cited to your checking out
> savings account.
>
>
>
> Sent from Samsung Galaxy smartphone.
>
>
>
> -------- Original message --------
> From: David Warren <david at warren1.net>
> Date: 9/3/24 3:21 PM (GMT-05:00)
> To: Boniforti Flavio <boniforti.f at gmail.com>
> Cc: gnucash-user at gnucash.org
> Subject: Re: [GNC] [newbie] how to treat a gift?
>
> Hi.  EVERY Gnucash entry is DOUBLE ENTRY.
>
> But you've answered your own question.
>
> Debit Assets:Current Assets:Checking Account for $100 Credit the income
> account of your choice but Income:Gifts Received is exactly what I would
> use too!
>
> For Salary, Debit Checking Account, Credit Income:Salary Received.
>
> On Tue, Sep 3, 2024 at 2:22 PM Boniforti Flavio <boniforti.f at gmail.com>
> wrote:
>
> > Hi all.
> > I've received 100 bucks from a relative as a gift, which he sent to me
> > via bank wire transfer.
> > In my GnuCash accounts I do have one called "Income:Gifts Received"
> > and I also of course have the "Assets:Current Assets:Checking
> > Account", where the money from the gift finally landed.
> >
> > How should I proceed to register this gift I received? I don't see any
> > reason to do a "double-entry", because the money is not coming from
> > one of my accounts - it's just getting INTO one of my accounts from
> external...
> > Same question for my salary, of course.
> >
> > Thanks for your help,
> > F.
> >
> > https://www.instagram.com/boniforti_music
> > https://soundcloud.com/boniforti_music
> > https://bonny-j.bandcamp.com
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