Book Image

Gnucash 2.4 Small Business Accounting: Beginner's Guide

4 (1)
Book Image

Gnucash 2.4 Small Business Accounting: Beginner's Guide

4 (1)

Overview of this book

Attention, small business owners! Stop tax-day stress. Stop procrastinating with a shoebox full of receipts. Stop reinventing the wheel with a spreadsheet. Stop making decisions simply on a hunch. Stop wasting money on software that is overkill. Start by downloading GnuCash and getting your accounts in order. Designed to be easy to use, yet powerful and flexible, GnuCash allows you to track bank accounts, income, and expenses. As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports. You can do it and Gnucash 2.4 Small Business Accounting Beginner's Guide will help you get up and running with maintaining your accounts. Gnucash 2.4 Small Business Accounting Beginner's Guide speaks business language, not accountant-speak, because it is written by a former small business owner. It guides you to use GnuCash from scratch with step-by-step tutorials without jargon, pointing out the gotchas to avoid with lots of tips. It will teach you to work on routine business transactions while migrating transaction data from other applications gradually. You will be able to keep on top of transactions and run reports after reading just three chapters! Beyond Chapter 3, it is up to you how far you want to go. Reconcile with your bank and credit card statements. Charge and pay sales tax. Do invoicing. Track payments due. Set up reminders for bills. Avoid stress at tax time. Print checks. Capture expenses using your mobile phone. Gnucash 2.4 Small Business Accounting Beginner's Guide gives you the power. Know your numbers. Make decisions with confidence. Drive your business to its full potential.
Table of Contents (20 chapters)
Gnucash 2.4 Small Business Accounting
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

Time for action – getting the numbers for tax returns


Let's say that it is time to prepare your annual tax returns. We will see the steps we have to go through to output the numbers needed for your tax return software:

  1. From the menu select Reports | Tax Schedule Report/TXF Export.

  2. In the Options dialog's Display tab, uncheck Do not print Action:Memo data and Do not print transaction detail. Now the report will look as shown in the following screenshot:

  3. Click the Export toolbar button and in the Choose export format dialog select TXF as shown in the following screenshot.

  4. Click OK. You will get the Save TXF to File dialog. Give the file a suitable name such as MACS2010.txf and click Export.

  5. If your accountant asks for transaction details for any account, you can create an account register report for that report alone. With the Sales account open, select from the menu Reports | Account Report. The report will open as shown in the following screenshot:

  6. You can either print this or export it and save...