On 12/29/2020 2:17 PM, Charles Hudson wrote:
First post: Greetings to all and thanks for your help. Because I have never used GNUCASH before, am unfamiliar with its reporting capabilities and am only conversant with basic accounting principles, I have a couple of questions about how to set up the chart of accounts. Briefly:I want to track investments with some granularity. For example, if I buy the same stock more than once - at different times and perhaps at different prices - I will need to account for these differences when I sell. So it seems to me that the hierarchy under Assets would be: Investments (placeholder) > Brokerage firm account (placeholder) > Stocks (placeholder) > Individual security, e.g. "XOM" (also a placeholder) > Group or "lot" of stocks against which transactions are recorded So if I buy XOM at 50 in March and XOM at 60 in August and sell both lots at 70 in October I have two lots, one with a short term capital gain of 10 per share and one with long-term capital gain of 20 per share. Does this make sense or am I looking at it wrong?
You are looking at it the right way. That's more or less how I set it up for "inventory lots" dealing with tee shirts sold by a non-profit but not all lots at exactly the same cost. In that case, I was using FIFO for the "cost of goods sold" part of tee shirt sales.
Michael D Novack _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
