Thanks for replying. The guide talks about setting up VAT/GST and
categories. I never studied these or have any idea what their purpose
is. It talks about setting a rate for a category. Charity would never
have a single rate. I buy several items from a store, and only one or
more may be Charity, a total amount, no rate. This was easy with
Quicken. What am I missing??
Hmmm. Dare I suggest the answer to your question is "a global perspective"?
MoneyDance is used globally and you do not say which "federation" you belong to.
For instance, I am a fellow user in Australia where GST (Goods & Services Tax) is a federal tax payable by citizens. My understanding is that VAT (Value Added Tax) is a federal tax in the UK (and probably elsewhere).
If you've not been paying either of those federal taxes in your local federation using Quicken, I don't really understand why would you wish to report on them with Moneydance?? Perhaps if you were to state your Country, a user from a similar /same jurisdiction might be able to give you additional guidance.
Either way, I suggest dwg has provided the appropriate answer for reporting on GST/VAT if you choose/are required to pay it and report on it.
I am in the USA. I now know what GST/VAT are. Neither of these apply in
USA. We have income tax, sales tax, and some others. The sales tax
varies by state, county, and city. Donations have to be detailed. I am
attaching an old income tax return that shows what I am talking about.
Schedule A (pgs 34 to 50) show what I need. Not as simple as VAT which I
experienced in England. Pages 38 and 50 are the best example. Although
the forms have changed over the years, this detail is still required. We
have to file no later than 15 April.
Hope this helps.
I must not be the only IS user who itemizes US Income deductions, Schedule A; For medical and charitable deductions, I need Category subtotaled by payee. How do you do this without another accounting system. It was easy with Quicken, but getting costly, That was the reason I went to MoneyDance. A Report to do this would be straightforward for someone knowing the data base.
What do USA income tax tilers do?
I create categories that represent the different lines for tax forms
I do a schedule c - for example, and don't just have a "business expense" category for everything, I have a business expense: inventory, a business expense:just about anything i need.
the income/expense (detail) report works extremely well when you do this.
Works for Schedule A as well.
Of course, it works best if you do this as you go, versus trying to do this after the fact.
I did the above in the 20 years I used quicken as well. it was very convenient, and items were characterized, and i could also use quicken's methodology of assigning tax categories. Although MD is more "worldwide", it still works well here.
ps - im not saying that there isn't a report in MD like the one you asked for, i'm just telling you what i do.
Although I think there were reports in quicken that did this, they always seemed incomplete. I went back to my tax reports out of Quicken from the previous few years, they all were subtotal by category, not subtotal by category AND payee.
But maybe I just didn't need the secondary subtotal. Re-reading your message, it would have been nice to have my weekly church contributions subtotaled separately from the other charitable contributions, but I never looked up if I could do that in Quicken. I just printed out the report, then used a calculator.
Again, this is quicken, not moneydance. If you had a better methodology, I should have figured it out.
i just did a transaction report, and must have done something wrong
setting up MoneyDanace account.For a given transaction, I get 2
transactions. One is with the correct Account and Category with the
correct negative Amount, and the next one with the Category as an
Account, and the Account as a Category with the incorrect positive
Amount. WHAT DID I DO WRONG AND HOW DO I FIX IT. The Accounts with
Transfers and everything else works as expected.
Best not to use "...transfer...." You will then see the single transactions.
Typically, I will run the report and then export it to a spreadsheet to
sort within each category (or sub-category). The easiest way is to "copy
to clipboard" and then paste into a "sheet". I have been doing this for