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

[R Losey]

Certainly, but you are missing the "other things" that your salary is
paying -- such as insurance, perhaps? savings? taxes? I don't know what
comes out of your paycheck.

Not to mention that if you just track "net", then your Salary Total will be
way off of the reported Total Salary on your W2.


On Tue, Sep 3, 2024 at 4:55 PM 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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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8