2015-11-17 GnuCash IRC logs
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09:22:19 <Colby> new to gnucash and wondering if there's a way to create my own invoice instead of modifying the bundled invoices.
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10:00:25 <gour> Colby: if you know Guile, why not...maybe possible with python as well
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11:01:31 <Colby> I don't know guile or python...so...I guess i'm out of luck?
11:02:20 <Colby> @gour
11:02:20 <gncbot> Colby: Error: "gour" is not a valid command.
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11:08:58 <gour> Colby: well, check the available ones and try to tweak...it's not so difficult...however, i'm not using gnucash invoices since i still need support for quotes, iow. to have two different counters, which is, afaik, not possible atm and have to use another app for invoicing
11:09:27 <gour> Colby: http://wiki.gnucash.org/wiki/Custom_Reports
11:11:05 <Colby> yeah, I've tweaked the bundled invoice, but it won't save my changes so I have to keep changing it every time I do an invoice. is there a way to link gnucash to my paypal account so I can send a paypal invoice?
11:11:43 <gour> Colby: which version you use? afaik, it is newer features to be able to save your custom report
11:12:01 <gour> check with warlord (when he appears) or jralls_afk
11:12:20 <Colby> 2.6.9
11:13:01 <Colby> thanks for the answers and direction, I really appreciate it.
11:14:44 <gour> Colby: of course, you can write to users list as well...no idea about linking to paypal
11:15:31 <gour> Colby: check http://gnucash.org/2.6-release-tour.phtml about new reports system
11:15:53 <Colby> thanks!
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18:49:03 <gnubie> hi, i have a question about personal finances, how should i track gifts received?
18:50:09 <warlord> gnubie: it depends on your tax obligation for received gifts. IANAA but I use "Income:Gifts"
18:50:57 <gnubie> and which account do you balance it with?
18:54:17 <warlord> I dont understand the question. It all depends what the gift is. The CREDIT account is Income:Gifts. The Debit account is variable depending on what is gifted.
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18:56:04 <gnubie> btw i mean gifts in the form of goods
18:56:06 <gnubie> not cash
18:59:41 <gnubie> my other question is, should i track clothes in assets?
18:59:51 <gnubie> or as expenses
19:01:26 <warlord> Do you ever expect to re-sell them?
19:01:44 <gnubie> no never
19:01:46 <warlord> As for the gift goods, agian, it depends what they are.
19:01:51 <warlord> Well, then, there's your answer
19:02:31 <gnubie> just in case i need to
19:03:29 <gnubie> well gifts like clothes
19:06:09 <warlord> Oh, well if its a gift like a hand-me-down, I wouldn't even account for it, personally.
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19:07:32 <gnubie> yeah i agree, i think not even new clothes
19:08:18 <warlord> For new clothes I would account for it as an expense
19:08:29 <warlord> E.g. Cash -> Expense:Clothes (or CC -> E:C)
19:09:07 <gnubie> yes i agree
19:10:19 <gnubie> but wouldn't that not reflect the real net equity?
19:11:51 <gnubie> i mean if my clothes are assets they should make me "richer"
19:13:50 <warlord> while technically clothes are an asset, really if they have no resale value then effectively their value is 0, making it an expense.
19:13:56 <warlord> c.f. depreciation
19:39:07 <gnubie> i agree
19:39:11 <gnubie> and what about an iphone?
19:39:47 <billatq> You're probably not going to track depreciation of household assets
19:40:13 <billatq> Even if you did, there's almost no benefit to doing so unless you can claim a tax benefit, which you'd normally need a business to do
19:41:57 <gnubie> yeah it makes sense
19:42:11 <billatq> If you're doing personal finance type things, it's much easier to track these things as expenses and if you sell them, track it as misc. income
19:43:17 <gnubie> i agree
19:44:50 <gnubie> and if i sell it for lower price i guess i could discount from the expense account and add to the assets->cash
19:45:33 <billatq> You could, but I probably wouldn't bother
19:46:14 <billatq> What would be the purpose of you doing that?
19:46:32 <billatq> If you want to accurately report income for taxes, sure, but most people wouldn't
19:47:50 <gnubie> yeah it makes sense
19:48:35 <gnubie> but one benefit is that i could see how much i spent for having the iphone, while i had it
19:49:12 <billatq> Well, but you'd probably going to have that iPhone for more than a year
19:49:16 <billatq> So what's your accounting period?
19:49:43 <gnubie> i keep it all on the same file
19:49:56 <gnubie> n years
19:50:06 <billatq> Yeah, but I don't think it's really working like you expect unless you were to make an account for the iPhone specifically
19:50:19 <billatq> And you'd credit/debit the account every time that you bought or sold a phone
19:50:46 <gnubie> yes, i agree, it would only work for an iphone specific account
19:56:21 <billatq> https://www.coursera.org/learn/wharton-accounting
19:56:31 <billatq> You might take an online class on accounting
19:56:35 <billatq> A lot of the concepts make more sense, I think
19:58:28 <gnubie> awesome thank you!
19:59:16 <gnubie> i'm doing book-keeping only for personal finances only, so i try to keep things simple
20:00:27 <billatq> The concepts are the same though
20:03:36 <gnubie> yeah i've been reading a little bit about accounting
20:04:37 <gnubie> one thing that i'm confused about is if i should take for example a car, as an asset and keep depreciating every year
20:05:10 <gnubie> or just as an expense and do the, income:misc transaction if i resell it
20:05:40 <billatq> Businesses depreciate capital assets because there is a tax advantage to doing so
20:07:27 <billatq> For something that's personal finance, unless something is particularly valuable, it's going to sell for less than what you paid for it
20:07:30 <billatq> So there's no net income there
20:07:41 <billatq> At least for the purposes of paying taxes
20:08:49 <gnubie> yeah i agree
20:09:32 <gnubie> so far i've keept everything as expense
20:10:35 <gnubie> but what about a house for example?
20:11:20 <billatq> http://www.gnucash.org/docs/v2.6/C/gnucash-guide/ch07s08.html
20:11:39 <billatq> Though I personally wouldn't track a house in gnucash
20:12:39 <billatq> I don't track my car in gnucash, even though I track expenses related to the car, for example
20:14:23 <gnubie> i see
20:14:37 <gnubie> so a purchase of a new car would be an expense?
20:14:50 <billatq> I'd probably book it as an expense, yeah
20:15:12 <billatq> And if you took out a loan for that, probably an expense on the loan account
20:15:18 <gnubie> it makes sense
20:16:21 <billatq> I'll generally only track cash equivalents or equities as assets
20:16:51 <billatq> And while you do have equity in things like houses and cars, they are relatively illiquid
20:17:30 <billatq> So there is less value to trying to track their value
20:17:47 <billatq> er, less utility in trying to track their value
20:18:19 <gnubie> yeah i agree, so in assets just things like savings account, paypal, etc.
20:20:05 <billatq> Yeah, and probably a brokerage account
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20:23:55 <gnubie> so only highly liquid assets that retain value
20:30:18 <billatq> I mean, you can track illiquid assets
20:30:22 <billatq> It's just a pain in the butt
20:30:40 <billatq> So if you want your hypothetical net worth to be right, sure
20:32:32 <gnubie> i got it xD
20:59:58 <gnubie> so should i have a separate file for each year?
21:32:14 <gnubie> "Thus, even though the new clothes you recently bought will certainly depreciate, you would not want to track this depreciation since you have no intention of reselling the clothes and there is no tax implications to the depreciation on clothing"
21:32:39 <gnubie> found that in the manual :) http://www.gnucash.org/docs/v2.6/C/gnucash-guide/capgain_concepts1.html
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