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Gnucash 2.4 Small Business Accounting by Ashok Ramachandran

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Summary

We learned a lot in this chapter about tax matters.

Specifically, we covered:

  • Creating mapping between GnuCash accounts and Schedule C: You will set up GnuCash accounts to help run your business on a day-to-day basis effectively. However, at tax time, you need to be able to create the tax returns quickly. This mapping is a convenient way to get that output.
  • Manual or electronic transfer of data into your tax return software: We saw how to get the numbers needed for the tax return in a report that can be entered into your tax return software manually. We can also export this data in a standard format and import into the tax return software.
  • Setting up sales tax tables: We saw different ways of setting up tax tables to follow the law in different ...

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