Thanks, John,
At this point, our needs for this are indeed simple. But I could see
them getting more complex in the future. I do understand cost accounting
and loved it when I studied it years ago.
I wonder if there are stand-alone inventory management programs/apps
that would work if our needs become more complex. If anyone knows of any
worth researching, please let me know.
The set of books I'm looking at this for is for a very small market
gardening (farming) operation which started in 2022. Only sold their own
produce in 2022. But later may branch out to sell stuff bought from
others, or – to complicate things more – may start producing prepared
products like jams, jellies, breads, even crafts and such for sale. Then
the cost accounting gets much more involved.
So I'm just researching and trying to look ahead to what may be needful
in the future.
Eric
GnuCash 4.13 on MacOS 13.1 Ventura installed on 2018 Mac Mini (3.2 GHz
6-Core Intel Core i7)
On 12/20/22 11:45, john wrote:
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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