I would absolutely record shipping as an expense, not an asset. The asset has value after you receive it; the shipping is "used up" the moment the package arrives. Only things that still have value should be listed in Assets.
No ..... if I am in the business of buying and selling widgets I well have batches of "widgets" under "inventory". Each batch will have a cost associated with it, and that cost would include getting the widgets to me. It's not an expense YET.
When I sell a batch of widgets, there will be income "sales" and expense "cost of goods sold". The cost of shipping to me was part of cost of goods sold.
If this seems strange to you, consider an inventory of firewood. What you paid for it as "stumpage" would be only a very small fraction of the cost << mainly costs of felling, cutting to log length and limbing, skidding to landing, haulage by truck, bucking, and splitting. >> THAT (total) would be my inventory cost per cord. These cots were not "used up" but converted the wood into something you could sell.
Well the cost shipping of inventory to you similarly hasn't been"used up". It "converted" that inventory from something not available for you to sell into something you could sell.
Michael D Novack _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
