I am wondering how, in GnuCash, to account for assets bought to resell
or other assets that will later be expensed as used.
I'm in the USA context. As far as terminology goes, I think UK and other
English speaking locales use the word "stock" to refer to inventory,
but, in my experience, that is not common in the USA (indeed, the first
definition of "stock" from Apple Dictionary: "the goods or merchandise
kept on the premises of a business or warehouse and available for sale
or distribution"; that is basically the definition of "inventory" at the
bottom of the wiki article referred to below). I will try to use the
word "inventory" so I do not confuse the term I'm talking about with the
one meaning ownership securities of a company ("He owns 100 shares of
XYZ Company stock.").
I found something relevant in the wiki:
https://wiki.gnucash.org/wiki/Inventory_Handling. Best I can tell,
GnuCash does not have any dedicated way to handle inventory flows:
purchases, sales, revaluations for market fluctuations, identification
of lots/batches).
If I want to deal with inventory now in GnuCash v. 4.13, any best
practices? I'm not talking about massive amounts of items or quantities.
Thank you!
Eric
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