> On Dec 20, 2022, at 6:55 AM, Eric Chapman <ecn...@etchapman.com> wrote:
>
> 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.
>
Unless your use case is very simple indeed best practice is to use a different
program. You'd need to study cost accounting and do it by hand in GnuCash.
Regards,
John Ralls
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