2010-08-08 GnuCash IRC logs

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12:32:26 <Lipoly> I'm switching from MS Money and trying out GNU Cash as an alternative to Quicken. One of the first things I'm trying is setting up scheduled bills. I can get a bill scheduled, but I'm having trouble finding out how to actually make a transaction from this scheduled payment. Is it just a reminder?
12:37:27 <Lipoly> In MS Money, you could view upcoming bills in a list and right+click to easily add them to the register...is anything similar available in GNU Cash?
12:38:11 <jsled> unless you select the "remind" or "create in advance" options on the Scheduled Transaction (SX), you'll only see SXes that have come due when you invoke the Since Last Run… dialog.
12:38:21 <jsled> there's no forecasting or listing of upcoming transactions.
12:40:44 <Lipoly> When it reminds you, dose it give you the opportunity to add the transaction? In other words, is it just a reminder, that you then have to manually type the credit/debit info to the appropriate accounts?
12:41:08 <jsled> no. if you created a template transaction with fixed amounts, it will create the transaction as such.
12:41:08 <Lipoly> Sorry, asked two different questions in one line...
12:41:31 <jsled> if you don't create a template transaction, then it will function just as a reminder, yes.
12:41:49 <jsled> Or … if you create the template transaction with variables instead of numeric values, it'll prompt you for those variables.
12:41:58 <jsled> even as a simple math expression.
12:42:15 <jsled> http://wiki.gnucash.org/wiki/FAQ#Q:_How_do_I_use_variables_and_formula_in_scheduled_transactions.3F
12:42:29 <Lipoly> Ok, thanks. It sounds like there is no way to create a scheduled transaction before its scheduled date unless you had setup the scheduled trans as a "create in advance" transaction
12:42:35 <Lipoly> Interesting
12:42:37 <jsled> that's correct
12:43:01 <Lipoly> Thanks for the help!
12:45:44 <jsled> you're welcome
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15:24:28 <instance> hello?
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15:24:48 <instance> im new to accounting but im trying to understand where do you set your retained from? your income?
15:25:00 <kpreid> what do you mean by retained?
15:25:06 <instance> retained earnings
15:25:09 <instance> sorry
15:26:00 <kpreid> ah, sorry, I don't know anything about business accounting, wait for someone else to answer
15:26:34 <instance> lets say my income is 50k, my expenses are 10k, my retained earnings are 40k and my dividends are 10k.. how do i put the 40k into retained earnings?
15:26:56 <instance> right now im going into my income and adding a "charge" of 40k
15:29:21 <jsled> Equity
15:29:37 <instance> i know its in equity, but what is the transfer
15:30:01 <jsled> equity -> assets
15:30:24 <instance> so i have to move all the transactions from income to equtiy?
15:30:36 <instance> all my sales lets say
15:31:40 <instance> because up until the end of the year, when i get lets say +$amount in my assets, i've been setting the transfer to Income -> Sales
15:32:20 <jsled> perhaps http://wiki.gnucash.org/wiki/FAQ#Q:_What_is_meant_by_year-end_closing_procedures.3F is useful ?
15:32:43 * instance is checking out that link
15:33:03 <jsled> also http://linas.org/mirrors/www.aerospacesoftware.com/2003.06.21/GNU_Cash_for_Business_users_Howto_Guide.html references retained earnings
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15:35:23 <instance> ok so
15:35:29 <instance> i've read the link
15:35:45 <instance> how do I do whats mentioned? do I go into every transaction and move it to equity
15:35:53 <instance> or is there a shortcut or something else im supposed todo
15:36:11 <jsled> are you trying to close out your books? or create new books based on the last period's retained earnings?
15:36:27 <jsled> it's not going to be "change the existing transactions'
15:36:38 <instance> trying to close my books and move the net income to retained earnings
15:36:55 <jsled> so much as create a new transaction of the value of the account against equity
15:37:17 <jsled> I'm not really sure about the procedure, but it looks like it's come up on the gnucash-user mailing list a few times.
15:37:29 <instance> is it "reconcile"?
15:37:33 <jsled> http://www.google.com/search?q=site:lists.gnucash.org+inurl:gnucash-user+retained+earnings
15:37:49 <jsled> no, reconciliation is the process of comparing the transactions in a period of time against a bank's statement.
15:40:28 <instance> so what people do is, every year they make a new gnucash file? and just make the retained earnings an entry in the assets?
15:48:54 *** warlord-afk is now known as warlord
15:50:54 <warlord> instance: Tools -> Close Books?
15:51:55 <warlord> instance: I don't do anything special at all. The reports all deal just fine with determining the amounts for the "current year"
15:52:12 <warlord> So the current-year Balance Sheet, and P&L all give me the "correct" values
15:59:10 <instance> ahh didnt see tha tool
15:59:11 <instance> that
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15:59:43 <kpreid> is there anything within gnucash to give totals of a budget?
16:00:05 <kpreid> i.e. given that I've entered income/expense predictions, answer 'what's my predicted net profit'
16:01:59 <instance> warlord, especially a close books does is remove all the income and expenses and consolidates it into the equity account
16:02:03 <instance> err
16:02:05 <instance> essentially
16:06:42 <warlord> instance: well it doesn't "remove" it per se, it just creates all the zero-izing transactions for you
16:07:06 <instance> i see
16:07:27 <instance> i have a question
16:07:45 <warlord> so you do. ;-)
16:08:33 <instance> if i closed my year with 30k retained earnings, then a week later i paid 12,000 in taxes.. my assets drops lower than my retained earnings.. so taxes are expenses right? how would i put be able to take a dividend on my retained earning if i dont have enough assets
16:09:43 <warlord> Well, if you have 30k of retained earnings then by definition you should have > 30k of assets.
16:09:46 <instance> would my 2010 year end tax payment be considered a 2011 expense?
16:10:01 <warlord> yes
16:10:13 <warlord> (i believe so -- you should ask your accountant or tax lawyer to be sure)
16:11:21 <instance> well my 2010 retained earnings is 30k, but after 12k taxes would it get changed to 18k? or stay as 30k but the next years retained earnings will be less the 12k?
16:12:24 <instance> ya ill ask him on my next visit
16:13:01 <warlord> I dont know. I think it would depend on whether you were collecting taxes to be paid (so they were just a liability), or if you just pay them outright.
16:13:44 <instance> ahh.. i pay them outright
16:13:48 <warlord> Like, if you were collecting sales tax, that would be a liability (taxes collected), not an asset.. But I dont know how it applis.
16:14:24 <instance> if it were a liability then my equity would not be 30k, it would 18k
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18:14:39 <xperia> hello to all. short question. what is the gnucash paypal adress ?
18:16:09 <jsled> xperia: are you looking to donate? http://sourceforge.net/project/project_donations.php?group_id=192
18:20:23 <xperia> jsled: thanks for link but i cant find on the side the paypal mail adress. need only paypal mail adress to test something here
18:20:55 <jsled> we're not paypal support.
18:21:15 <jsled> if you'd like to donate, that's a good way to do it. I don't believe we have a project paypal address.
18:22:42 <xperia> i must transfer the money to a mail adress in paypal. the sourceforge thing is too complicated and new to me.
18:28:22 <xperia> okay i will comebacl later this day and hope to get the paypal adress so i can transfer money without using this sourceforge thing.
18:28:41 <xperia> see you all. bye
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18:44:50 <Antisoche> Greetings: Two questions. 1: I want to reuse an invoice that I accidentally created, but it already has a job associated with it. How do I get rid of the job? 2: What does the 'Active' checkbox mean on the 'View Invoice' screen?
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20:24:11 <Antisoche> huh?
20:24:44 <Antisoche> Dunno what happened - got distracted and when I came back to see what version I was running I couldn't find my GnuCash window.
20:25:25 <Antisoche> It looked like the program died so I relaunched it. My window appeared as I generally remember I left it, but now the job is missing from the invoice.
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20:37:19 <Antisoche> Well, so much for that. As soon as I added a line item the job entry came back. :-(
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