KMyMoney helping with taxes

     Its tax time again, a time to dread or anticipate, depending if you are getting a refund or have to pay. Most state will require you to pay any sales taxes on purchases online, or through the mail, that you haven't already paid sales tax on. Keeping track of these purchase can be a chore, and adding them all up at the end of the year, requires finding all the reports of purchases you made without tax. Starting now though you can make next years tax time easier.
     Many people keep track of their finances with software, and I'm no different. Introducing KMyMoney. When used correctly this program, or many others like it can save you a lot of headache when it comes time to find out how much money you spent on out of state purchases that didn't have tax.
     Lets start with a quick intro. KMyMoney, the Personal Finance Manager for KDE. It should be noted that KMyMoney will run on Gnome, Cinnamon, and other interfaces, it will just require the KDE libraries, which will sit on your computer, and not interfere with performance in any way.
     KMyMoney should be in your repositories so just install it via software manager, package manager, or terminal, whichever way you prefer. Once installed launch and you'll be greeted with the New File Setup, which is a series of five steps.

     First KMyMoney wants some personal data, if you don't want to provide it you can leave the fields all blank, of course everything is being saved locally, so there wouldn't be any danger in filling in these fields, but I'm not really sure what the benefit of doing so is.

     Select your currency, as you can see you have LOADS of options.

     Now, creating your first account, again you can leave the account number and routing number blank if you so choose.

     You can get predefined categories, or opt to create all the categories yourself. Categories are useful for seeing what you are spending money on, and where you are bringing money in from.

     The next step, deciding whether or not you want to configure the preferences after finishing the wizard.

     Now that the new file is all ready to be used, it needs someplace to be saved. It will default to a certain location, but as they say you can choose any other location you want as well.

     The main screen once you've setup and created your new account. There is a lot of functionality, but we're going to focus on how to use KMyMoney to make your tax preparation easier.
     I'm going to spend about 347.67 on some training materials from the Blender e-shop, now being an online purchase I don't have any sales tax, so I'll note that in the entry. Clicking on my account, in the blue will bring us to the account ledger. We have one entry already, as our opening balance and we'll just click on the New button

     In the Pay to field we'll just put in Blender e-shop, of course if you were shopping at the grocery store you would put that down, and then the category, in this case it's education, but again for something different you'd pick the category it falls in, or create a new category. Thirdly the memo, put in as much or as little information as you want, but on any tax free purchases, that you will need to pay sales tax on, ad a line that says No Tax. TIP: to create a new line in the memo hold down Shift and hit enter, as just hitting enter will enter the transaction. Lastly put in the amount, and hit the enter key, or click on the Enter button.

     Continue doing this for all your purchases, through the whole year. In addition to being able to easily find what you need to pay sales tax on, you can also see your spending by categories, and payees.

     What we really want to look at is the Reports, as this will be super easy and automated and will take all the work out of finding out how much you need to pay sales tax on.

     As you can see there are a lot of different reports, and I encourage exploring them all once you've been recording your spending and earnings for a while, as you can learn a lot you might not realize about your habits. For our purposes though we're going to be looking at Transactions/Transactions by Account

     Double clicking will pull up the report, which if we had more transaction data would be much larger, right now its fairly basic, and just gives a list of all transactions for all accounts. This can be configured to give us more data that we want, and less unimportant data Clicking the configure button up on the top will open the configuration dialog.

     First off change the report name, I would do something like No Tax, and then tick the box to mark as a favorite report, as you'll be able to pull this report up in the future even if you close the report window.

     Moving a few tabs over to Text we can make the magic happen. Type No Tax, or whatever you chose as your key phrase to mark the tax free transactions.

     Jumping over two more tabs to Date, I'll be using Current fiscal year for now, as I have nothing from last year in this newly created file, but you can click on the dropdown and select all sorts of predefined date ranges, or enter your own. Click okay and the dialog will close and up will appear your new report.

     Ta-Daa your shiny new report will all the information you need

     This is from my actual spending, I included this, as there is more information, and it better shows how this works with real data. As you'll notice I have two accounts listed, both my credit card and PayPal account. Also in my Credit card account there is a refund on web hosting, I was accidentally charged for a feature I didn't want or use, so I got my money back, I payed 29.97 tax free, and got that back tax free, this report subtracts out the 29.97 so I only have the amount I actually owe tax on. I also have the Grand Total listed right on the bottom, where I can see at a glance exactly how much I spent without paying sales tax on, and can easily put that right into my taxes.

     There you have it, how to use KMyMoney to keep track of your finances and use it to easily find out how much you need to pay sales tax on at the end of the year.
     If you have any questions feel free to leave a comment and I'll get back to you ASAP.