[SL] Re: Setting up accounts for business use of home.

I suggest to keep the tax-calculation OUT of the accounting software.
Those two things do not really belong in one package. Tax laws are =
different
everywhere, while accounting standard are finally starting to shape up
(GAAP, IAS etcetera).=20
To mix this with local or national income-TAX laws (bound to change each
year at least, if only the %)  does not seem very bright imho.=20

(NB: the percentage 'trick' used for VAT is basically the same =
everywhere,
except for different %. I know of tax regulations here in Holland where =
the
amount of accepted deduction for travels depend on how much km you =
travel in
private. Try to fit that in whatever accounting package ;-)

Percentage calculations for turnover may be one thing, and at least are
related to the business. Personal circumstances and depending tax =
deductions
essentially are a PERSONAL matter, not a business matter. They should go =
in
the personal files, not the accounting package.=20

Suggestion: Invoice your company for the allowed percentage (stick a =
copy of
the original bills and percentages used for tax purposes). Then simply =
pay
yourself.=20

Cheers,
Paul


-----Oorspronkelijk bericht-----
Van: sql-ledger-users-bounce@xxxxxxxxxxxxx
[mailto:sql-ledger-users-bounce@xxxxxxxxxxxxx] Namens Mark J. Small
Verzonden: Friday, 02 May 2003 17:40
Aan: sql-ledger-users@xxxxxxxxxxxxxx
Onderwerp: [SL] Setting up accounts for business use of home.




Hi everybody,

I've been setting up sql-ledger on my system, for my small business=20
that I run out of my home (I'm in Canada).   I've got my chart of=20
accounts mostly setup, and my invoice templates are looking good now,=20
but I'm wondering how I should deal with business use of home expenses.

I am able to write off a certain percentage of my power, heat, mortgage=20
interest, etc at tax time.  So I was thinking that I would just enter=20
that percentage of the expense in to my accounts and be done with it. =20
However, the actual tax form needs the full value spent and has a space=20
to take the appropriate percentage as part of the form.  Should I just=20
do the reverse calcualution at tax time?  What I would like to see is a=20
percentage as part of the chart.

Mark

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