@@ -48,13 +48,13 @@ 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.
@@ -335,13 +335,13 @@ The possible values for this field are:
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
@@ -351,26 +351,26 @@ The possible values for this field are:
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.
@@ -427,13 +427,13 @@ thus deprecated.
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.