2007-05-23 GnuCash IRC logs
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05:14:45 <karsten> hi
05:14:57 <nbinont> hi
05:14:57 <gncbot> nbinont: Sent 2 days, 0 hours, and 58 minutes ago: <andi5> watch out for http://svn.gnucash.org/trac/changeset/16115?format=diff&new=16115 when building from the tarball.... i am sorry
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05:16:21 <karsten> i'm trying to set up gnucash to account for NZ GST... in the FAQ it says to set up an account Liabilities:GST:Paid for GST that I have paid on supplies. why is GST that i have already paid a liability? isn't it an asset? (sorry if this is a stupid question, i dont really know any accounting)
05:20:21 <nbinont> do you have a link to that documentation page?
05:20:41 <karsten> wiki.gnucash.org/wiki/FAQ
05:20:48 <karsten> "How do i handle GST on invoices ..."
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05:31:29 <nbinont> hmm...I'm no accounting expert either, but I believe that the idea is as follows: when your business purchases inventory, you pay GST on it, but this GST is GST that you expect to recover when you sell your inventory. It will appear as a positive value in your liability account (as if you overpaid). when you sell your inventory, you will have a liability to the government (this adds a negative amount to the liabili
05:32:16 <karsten> ah
05:33:38 <karsten> so it's basically a negative liability?
05:35:02 <karsten> these different types of accounts are somewhat confusing anyway... to the layman it would seem easier to just use positive and negative numbers ;)
05:37:17 <nbinont> yes, effectively (you paid GST, but in the end it's your customers that will pay the gst - not you) You can think of it as "pre-paying" the government for a future liability (this future liability will be the GST you collect from your customers - when they buy from you)
05:37:37 <nbinont> I agree...but that's accounting ;)
05:37:40 <karsten> hehe
05:38:26 <karsten> i see, so when i do a gst return i just need to add up those two accounts..
05:38:28 <karsten> thanks!
05:38:42 <nbinont> np
05:39:28 <cortana> karsten: send in your account setup when you have it ready so it can be added to the docs/examples
05:43:54 <karsten> ah... it even works with a single GST liability account and it gets increased when i post an invoice and decreased when i post a bill... except i'll need to keep it separate to have the two separate totals for the GST return
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06:46:13 <karsten> hm
06:47:43 <karsten> one other thing i dont quite get (just playing through a coupe of scenarios)... i've bought a notebook and used the vendor/bill facility to record it, and made a transaction from assets:bank to liabilities:accounts payable to record paying for it
06:48:22 <karsten> now it shows up under expenses:hardware... but it should also show up in assets:fixed assets
06:49:01 <karsten> do i have to do a transfer from the expense account to the asset account? or isnt purchase an expense in the first place?
06:51:18 <karsten> (and if i transfer from expense to asset, wouldnt that make the expense total incorrect/useless with respect to tax deductible expenses?)
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06:57:41 <karsten> ah ah, the depreciation of the asset would be the expense which is then tax deductible, right?
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07:16:45 <cortana> karsten: if you're going to track it as an asset then it's not really an expense
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08:28:19 <warlord> karsten: the purchase isn't an expense.
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08:47:20 <karsten> thanks
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15:13:22 <xai> I just noticed that unposted invoices can't print. Is there any changes in newer versions than 2.02 ?
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15:15:08 <xai> I guess I can post it, print and unpost.
15:22:40 <xai> Ok, I was able to post->print->unpost->refresh and get the invoice to say (invoice in progress).
15:31:21 <warlord> xai: You can print it via selecting it from the report.
15:31:34 <warlord> Go to the report directly and then choose the invoice.
15:34:49 <xai> ok.. Thanks.
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17:19:04 <plathrop> Afternoon.
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19:41:52 <nbinont> hi!
19:42:13 <nbinont> I had to modify /gnucash/trunk/src/report/report-gnome/Makefile.am but am having trouble making it take effect
19:46:46 <nbinont> I get 'missing' complaining that it can't find automake-1.10 ..but I have automake-1.9 installed. I'm a bit unsure what to do here. automake 1.9.6 is the package we install, according to defaults.sh
19:47:48 <nbinont> do we need something from 1.10 or can I convince missing to use 1.9?
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23:02:30 <warlord> Um, if you're going to change the Makefiles you need to re-run autogen
23:02:50 <warlord> nbinont: that was to you
23:04:10 <warlord> nbinont: what's the problem with report-gnome/Makefile.am?
23:46:14 <warlord> okay, i'm off to bed
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