@@ -42,25 +42,25 @@ accounts that you use. Accountants also use "account codes", which, as near
as I can tell, are of primary interest because they get better sorting.
Ledger CLI doesn't really support account codes, so I've ignored them.
The real place that Ledger CLI stores your chart of accounts is if you use
the `account` directive along with the `--pedantic` CLI option. This will
ensure that only accounts you declared explicitly will used.
### Asset Accounts
Asset accounts represent anything that's owned. Typically, these are
primarily your cash accounts, or anything that's completely liquid.
Many accounting tutorial materials will note that Loans, accounts receivable
Many accounting tutorial materials will note that loans, accounts receivable
and other receivables are assets as well. Most accountants will
say that they are, but with regard to accounts called "Assets", this system
uses the account hierarchy `Assets:` only for tangible, liquid,
cash and/or cash-equivalent assets. You'll find that account hierarchy
commonly in the examples herein.
### Liabilities Accounts
Similar to assets, most accountants will point out that any amount owed to
someone else is a liability, and that is of course accurate. Like with the
`Assets:` hierarchy, this system uses `Liabilities:` hierarchy only to refer
to formalized accounts, such as credit cards, where a monthly statement is
@@ -329,54 +329,54 @@ The possible values for this field are:
* `Foreign-Individual-Contractor`, indicating that the NPO has established
that the `Entity` is a contractor residing outside the USA who is not a USA
citizen and does not for any reason pay taxes in the USA.
* `Foreign-Corporation`, indicating that the NPO has established
that the `Entity` is a corporation outside the USA.
* `USA-Corporation`, indicating that the NPO has established that the
`Entity` is an incorporated entity the USA (i.e., "Inc."), and therefore no
1099 is required.
* `USA-501c3`, , indicating that the NPO has established that the `Entity`
* `USA-501c3`, indicating that the NPO has established that the `Entity`
has federal 501(c)(3) status in the USA, and therefore no 1099 is required.
* `Refund`, indicating that the amount is a refund owed to the `Entity` from
an amount previously paid to the NPO.
* `Reimbursement`, indicating that the amount is a reimbursement of expenses
incurred by the `Entity` and thus it is not income to the `Entity`.
* `Tax-Payment`, indicating this is a tax payment to a taxing authority (such
as the state or federal government) (e.g., a unrelated business income tax
payment).
* `USA-LLC-No-1099`, indicating that the `Entity` is an LLC, but not the type
of LLC for which the USA requires issuing a 1099.
* `Loan`, indicating that the `Entity` is receiving these funds as a Loan
* `Loan`, indicating that the `Entity` is receiving these funds as a loan
that is expected to be paid back.
#### Program Tag
The `Program` tag is used primarily to track program activity for `Income:`
and `Expense:` accounts. This allows for knowing what particular initiative
initiated the income (e.g., a specific fundraising campaign) and/or what
particular program activity an expense is toward (e.g., funding travel to
some specific conference).
The Program tag is always a string with the same format as a Ledger CLI
account (primarily for use with Ledger CLI's `--pivot` and `--group-by`,
[as described later](#testing-program-success).
[as described later](#testing-program-success)).
### Account Type Documentation Requirements
Each account type has different documentation requirements. Based on the
type of the account, it requires a different set of tags.
When Ledger CLI's `--pedantic` option is used, these rules are enforced by
ledger itself via the configurations found in `config-tags.ledger` and
`config-accounts.ledger`.
#### Expense Account Documentation
@@ -421,25 +421,25 @@ it like this:
However, going forward, you'd likely never enter anything the ledger
**until** you had real proof via an Invoice, Receipt or Statement that showed
the Expense did/should occur. This use of `NEVER CHARGED` in the payee is
thus deprecated.
#### Income Account Documentation
Each `Income:` account must have the following tags:
* One of: [`Invoice:`](#invoice-tag),
[`PurchaseOrder:`](#purchase-order-tag),
[`Statement:`](#statement-tag) or
[`Contract`](#contract-tag). (Exceptions to this requirement are as follows:
[`Contract`](#contract-tag). Exceptions to this requirement are as follows:
+ the income generated from the transaction is less than $800, or
+ the `IncomeType` is `RBI` and the income is for a defined, public
program (such as conference registration)
* An [`Entity:`](#entity-tag) tag, *iff.* the Income for the transaction is
for more than $800.
* An [`IncomeType:`](#incometype-tag) tag.
* A [`Program:`](#program-tag) tag.
Analysis of the Data