On 2/11/2018 9:03 AM, Robert Heller wrote:
At Sun, 11 Feb 2018 08:15:56 +0100 Jeff Abrahamson <j...@p27.eu> wrote:
....... transfer
"money" from the vegetable account to a bank account (income when you sell
vegetables) and when you transfer money from a bank account to the vegetable
account (an expense when you buy vegetables). *I* do this which my inventory
of thumb drives. GnuCash does not have "inventory" accounts or any way of
dealing with inventory as such
Inventory MANAGEMENT is something else (gnucash lacks this but that
belongs in an inventory system*, not "general ledger".
But you are saying that gnucash does not support inventory value and
cost accounting and that is simply not so.
Let's say incidental to its main activity an organization sells various
things (tee shirts, coffee mugs, etc.) as a fund raiser. You create
under Assets (after "current assets" and "fixed assets") a parent
"Inventory of goods". Under that might be accounts (more likely also
parents as batches of goods might have different basis) for "tee
shirts", "coffee mugs", etc. When the organization buys a new batch of
tee shirts that is a debit to "tee shirts" (or as I mentioned, perhaps
"tee shirts batch 4" --- the account description can include what the
unit price was for this batch) and a credit to checking << note: we get
confused using the supposedly more user friendly terms worrying about
what sort of "transfer" this is). Each sale of a tee shirt not only
debits cash and credits "sale of tee shirts" for the sale price but also
debits "cost of goods sold" and credits the inventory account "tee
shirts batch N" for the unit cost of batch N << going to be a policy
decision whether to simply use FIFO or to actually worry about from
which batch that shirt came. Maybe BOTH come into play. To use your
example, thumb drives, you might have 8 Gb drives (batches of those) and
16 Gb drives (batches of those) so you might want under "thumb drives"
children "8 Gb drives" and "16 Gb drives" and under each of those "batch
1, batch2, etc. and use FIFO there >>
Michael D Novack
* The data kept here things like "number on hand", "physical location
where shelved", "reorder point", etc.
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