Chapter 8: Making Tax Times Less Stressful
by Ashok Ramachandran
Gnucash 2.4 Small Business Accounting
- Gnucash 2.4 Small Business Accounting
- Copyright
- Credits
- About the Author
- About the Reviewers
- www.PacktPub.com
- Preface
- 1. Getting Started with GnuCash
- Installing GnuCash on Windows
- Time for action - installing GnuCash on Windows
- But first, a tip to make your life easier with auto-save
- Taking the drudgery out of setting up accounts
- Time for action - creating the default business accounts
- Getting your business accounts done just right
- Time for action - fine tuning business accounts
- How to impress your accountant
- Strengths and limitations of GnuCash
- Summary
- 2. Transactions the Lifeblood of a Business
- A quick and easy way to enter simple transactions
- Time for action - entering simple transactions quickly and easily
- Entering a simple transaction in the account register
- Time for action - entering a simple transaction in the account register
- Entering a more complex transaction in the account register
- Time for action - entering a split transaction in the account register
- Anybody can change their mind
- Time for action - editing, cancelling, and deleting transactions
- A feeling of déjà vu
- Time for action - reusing transactions
- Summary
- 3. Fun and Eye-opening Part - Reports and Charts
- Viewing standard reports and charts
- Time for action - viewing standard reports and charts
- Creating a custom report and saving it
- Time for action - creating a custom report and saving it
- Working with stylesheets
- Time for action - working with stylesheets
- Exporting reports
- Time for action - exporting reports
- Summary
- 4. How not to Get Lost in the Transactions Jungle
- How not to get lost while hiking in the wilderness
- Manual reconciliation
- Time for action - reconciling with a printed monthly statement
- Electronic reconciliation
- Time for action - reconciling with a downloaded electronic statement
- Credit card reconciliation
- Vital point to remember when importing an OFX file
- Recovering from wrong selection of account
- Time for action - changing the account to import into
- Summary
- 5. Repetitive Work? Let GnuCash do it
- Let GnuCash worry about recurring transactions
- Time for action - creating a recurring transaction from the register
- A stitch in time saves nine
- Time for action - triggering scheduled transactions
- Tool to create many recurring transactions
- Time for action - creating scheduled transactions in bulk
- Summary
- 6. Business Mantra: Buy Now, Pay Later
- Credit is the lubricant for the wheels of business
- Billing terms and customers
- Time for action - setting up billing terms and adding customers
- Invoices and Accounts Receivable
- Time for action - keeping track of credit sales
- Setting the starting invoice number
- Time for action - setting the starting invoice number
- Processing payment
- Time for action - when the check is on hand
- Bills and accounts payable
- Time for action - keeping track of credit purchases
- Summary
- 7. Budget: Trip Planner for your Business
- Budget
- Time for action - creating a budget for your business
- Employees and payroll
- Time for action - making payroll entries in GnuCash
- Depreciation
- Time for action - making depreciation entries for assets
- Owner's drawing
- Time for action - entering owner's draw in your books
- Summary
- 8. Making Tax Times Less Stressful
- GnuCash currently supports only US business types for income tax
- Setting up income tax related accounts
- Time for action - mapping GnuCash accounts to tax schedules
- Creating income tax schedule report and TXF export
- Time for action - getting the numbers for tax returns
- Setting up sales tax tables
- Time for action - setting up sales tax tables
- Applying sales tax to invoices
- Time for action - charging sales tax on sales
- Summary
- 9. Printing Checks and Finding Transactions
- 10. Adapting GnuCash for Non-profits and Personalizing
- No separate non-profit version of GnuCash
- Bookkeeping for non-profits
- Time for action - using GnuCash features for non-profits
- Keeping funds for projects separately
- Time for action - allocating funds for projects
- Getting overall Income Statement
- Time for action - getting overall Income Statement
- Personalizing GnuCash
- Time for action - getting your work environment just right
- Protecting your data
- Time for action - backing up your data
- Summary
- 11. Data Import/Export: Use your Phone to enter Expenses
- Saving expense data in your smartphone and uploading to your PC
- Time for action - using a smartphone to save expense data
- Sending data through an expense tracking service
- Time for action - using an expense tracking service to get data into GnuCash
- Migrating to GnuCash from other accounting software
- Time for action - migrating to GnuCash from other software
- Exporting data from GnuCash
- Time for action - exporting data from GnuCash for migration and other purposes
- Summary
- 12. Application Integration and Other Advanced Topics
- These tutorials assume a certain level of proficiency
- Using OpenOffice.org Base to query data
- Time for action - using popular office software to query GnuCash data
- Using MS Excel to create reports and charts
- Time for action - connecting from Excel to create reports and charts
- Application integration
- Time for action - exporting contact information from GnuCash
- Foreign currency transactions
- Time for action - invoicing and receiving payment in Canadian dollars
- Other handy tips and tricks
- Time for action - grouping invoices for each contract separately
- Summary
- A. Pop quiz - Answers
- Chapter 1: Getting Started with GnuCash
- Chapter 2: Transactions the Lifeblood of a Business
- Chapter 3: Fun and eye-opening part - Reports and charts
- Chapter 4: How not to get lost in the transactions jungle
- Chapter 5: Repetitive work? Let GnuCash do it
- Chapter 6: Business Mantra: Buy Now, Pay Later
- Chapter 7: Budget: Trip Planner for your Business
- Pop quiz - calculating payroll
- Chapter 8: Making Tax Times Less Stressful
- Chapter 9: Printing Checks and Finding Transactions
- Chapter 10: Adapting GnuCash for Non-profits and Personalizing
- Chapter 11: Data Import/Export: Use your Phone to Enter Expenses
- Chapter 12: Application Integration and Other Advanced Topics
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