split an amount into 2 separate accounts

[GoogleCodeExporter]

For example: a restaurant bill came to $50 including $5 in tax. 

The $5 would be a debit into an ITC (input tax credit) account, $45 would be 
debit to Meal expense account and the $50 total would credit a payable account 
(or bank account)

Original issue reported on code.google.com by [email protected] on 17 Oct 2014 at 5:05

[GoogleCodeExporter]

Vinit:

I think for most people it would be good if the split happens at time of 
recording (especially using the mobile app). Infact thats how most accounting 
software handle it. So for instance you create a setting of how much tax (3%,5% 
etc in the background) then you enter the subtotal and the tax is automatically 
calculated. Then when you hit post, it enters that tax amount to the ITC 
account. 

But since you guys cater to a large audience in various states and provinces 
with various tax levels (county, etc.) it might be better to also build a 
feature where its editable when managing. An example that I am aware of is in 
Canada, you can claim the full tax for most of your expenses but hydro, 
environmental disposal etc.you can only claim the federal tax (a lower 
percentage) so an editing feature will be very handy

Also a quick advise as you guys are building this- think longterm for eg; you 
also have to consider the same happens on sales (from invoices), when a 
business is selling a product, they are charging a tax, so again you would want 
that sale tax to be split into your sales account. For example if I sold a 
product for $120, where the product was $100 and $20 was tax, I would like the 
$120 to debit a receivable account (or bank) and credit $100 to a sale account 
and $20 to a tax account. 

In many US states and Canadian provinces, when a business submits their tax 
report, they submit both together their ITC and their Sales Tax and typically 
the net is what they pay the government (or get reimbursed).

Hope this helps. thanks in advance!

Original comment by [email protected] on 20 Oct 2014 at 6:21

• Changed title: split an amount into 2 separate accounts

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Original comment by [email protected] on 20 Oct 2014 at 6:30

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• Removed labels: Priority-Low

[GoogleCodeExporter]

By Amaury Van Espen:

so, one way to do it could be, in the draft feature, offers ability to tell 
"50€ #cargas #gasolinestation 50%Voiture 50%Transport 08/08/2015"
then put 25€ in Voiture account and 25€ in Transport account

Original comment by [email protected] on 8 Aug 2015 at 1:55

[GoogleCodeExporter]

Very useful advice also for analytics expense or income

Original comment by [email protected] on 8 Aug 2015 at 1:55

[rverrips]

I would also prefer to enter a multi account split on one line, not just for tax, but other splits as well and not just on percentage, e.g. 980 @ Walmart ~240 #clothing ~100 #phone credit ~rest #groceries
(Hoping bkper could then post 240 to closing, 100 to phone and 640 to groceries)