[moneydance] till?

[Edward Reid]

At 23:12 08/23/06 -0400, John Muccigrosso wrote:
>Money from the till is usually income,

It's money INTO the till which is income. The till is just another account, 
and transferring to and from the till and your bank account is just 
shifting assets from one account to another.

This is also the legal status in most places where you have to pay income 
tax and/or charge sales tax. The tax collection authority absolutely does 
not care how much cash from the till you put in your bank account, how much 
you put in your pocket, and how much you dump at the casino. It's income 
when you receive it from the customer.

And I see no reason to treat yourself any differently. The till is your 
asset; movement of funds into your asset is income. The till and your bank 
account are both your assets; transfer from one to the other is just a 
change of location of your assets.

Edward
Art works by Melynda Reid: http://paleo.org