Payee Income Transactions
Income from Payees can be made as follows
Definitions
We start with the following accounts and transaction categories
Deposit Accounts
| Name | Parent | Category | Currency | Starting Balance |
|---|---|---|---|---|
| BarclaysCurrent | Barclays | Checking | GBP | £10,000.00 |
Payee Accounts
| Name | Type |
|---|---|
| IBM | Employer |
| Parents | Individual |
| InlandRevenue | TaxMan |
| Government | Government |
| Barclays | Institution |
TransactionCategories
| Name | Type |
|---|---|
| Income:Salary | TaxedIncome |
| Income:Benefit | VirtualIncome |
| Income:SocialSecurity | GrossIncome |
| Income:Gifts | GiftedIncome |
| Income:Inheritance | Inherited |
| Taxes:IncomeTax | IncomeTax |
| Expenses:Virtual | Withheld |
Transactions
We have the following events
Transactions
| Date | Account | Category | Amount | Direction | Partner | TaxCredit | DeemedBenefit |
|---|---|---|---|---|---|---|---|
| 01-Aug-1986 | BarclaysCurrent | Income:Inheritance | £500.00 | From | Parents | ||
| 02-Aug-1986 | BarclaysCurrent | Income:Inheritance | £60.00 | To | Parents | ||
| 03-Aug-1986 | BarclaysCurrent | Income:Salary | £1,000.00 | From | IBM | £20.00 | £10.00 |
| 04-Aug-1986 | BarclaysCurrent | Income:Salary | £100.00 | To | IBM | £0.90 | £0.50 |
| 05-Aug-1986 | BarclaysCurrent | Income:SocialSecurity | £100.00 | From | Government | ||
| 06-Aug-1986 | BarclaysCurrent | Income:SocialSecurity | £10.00 | To | Government | ||
| 07-Aug-1986 | BarclaysCurrent | Income:Gifts | £50.00 | From | Parents | ||
| 08-Aug-1986 | BarclaysCurrent | Income:Gifts | £5.00 | To | Parents |
Analysis
The analysis of these transactions is as follows
AssetAnalysis
| Date | BarclaysCurrent |
|---|---|
| 06-Apr-1980 | £10,000.00 |
| 01-Aug-1986 | £10,500.00 |
| 02-Aug-1986 | £10,440.00 |
| 03-Aug-1986 | £11,440.00 |
| 04-Aug-1986 | £11,340.00 |
| 05-Aug-1986 | £11,440.00 |
| 06-Aug-1986 | £11,430.00 |
| 07-Aug-1986 | £11,480.00 |
| 08-Aug-1986 | £11,475.00 |
| Profit | £1,475.00 |
PayeeAnalysis
| Date | IBM | Parents | InlandRevenue | Government |
|---|---|---|---|---|
| 01-Aug-1986 | £500.00 | |||
| 02-Aug-1986 | £440.00 | |||
| 03-Aug-1986 | £1,020.00 | £440.00 | -£20.00 | |
| 04-Aug-1986 | £919.10 | £440.00 | -£19.10 | |
| 05-Aug-1986 | £919.10 | £440.00 | -£19.10 | £100.00 |
| 06-Aug-1986 | £919.10 | £440.00 | -£19.10 | £90.00 |
| 07-Aug-1986 | £919.10 | £490.00 | -£19.10 | £90.00 |
| 08-Aug-1986 | £919.10 | £485.00 | -£19.10 | £90.00 |
| Profit | £1,475.00 | |||
TransactionCategoryAnalysis
| Date |
Income:
Salary |
Income:
Benefit |
Income:
SocialSecurity |
Income:
Gifts |
Income:
Inheritance |
Taxes:
IncomeTax |
Expenses:
Virtual |
|---|---|---|---|---|---|---|---|
| 01-Aug-1986 | £500.00 | ||||||
| 02-Aug-1986 | £440.00 | ||||||
| 03-Aug-1986 | £1,020.00 | £10.00 | £440.00 | -£20.00 | -£10.00 | ||
| 04-Aug-1986 | £919.10 | £9.50 | £440.00 | -£19.10 | -£9.50 | ||
| 05-Aug-1986 | £919.10 | £9.50 | £100.00 | £440.00 | -£19.10 | -£9.50 | |
| 06-Aug-1986 | £919.10 | £9.50 | £90.00 | £440.00 | -£19.10 | -£9.50 | |
| 07-Aug-1986 | £919.10 | £9.50 | £90.00 | £50.00 | £440.00 | -£19.10 | -£9.50 |
| 08-Aug-1986 | £919.10 | £9.50 | £90.00 | £45.00 | £440.00 | -£19.10 | -£9.50 |
| Profit | £1,475.00 | ||||||
TaxAnalysis
| Date | Salary | TaxFree | TaxPaid | Virtual |
|---|---|---|---|---|
| 01-Aug-1986 | £500.00 | |||
| 02-Aug-1986 | £440.00 | |||
| 03-Aug-1986 | £1,030.00 | £440.00 | -£20.00 | -£10.00 |
| 04-Aug-1986 | £928.60 | £440.00 | -£19.10 | -£9.50 |
| 05-Aug-1986 | £1,028.60 | £440.00 | -£19.10 | -£9.50 |
| 06-Aug-1986 | £1,018.60 | £440.00 | -£19.10 | -£9.50 |
| 07-Aug-1986 | £1,018.60 | £490.00 | -£19.10 | -£9.50 |
| 08-Aug-1986 | £1,018.60 | £485.00 | -£19.10 | -£9.50 |
| Profit | £1,475.00 | |||