For whatever reason, we live in a world where location does matter, and the value of a good changes with its location.
If the value of a good did not change with location, there would be no shipping. > On 09/30/2024 1:32 PM PDT David Cousens <[email protected]> wrote: > > > Flavio, > > Shipping is a service so it does not add to the value of your assets so > it is simply an expense so the transaction becomes: > > PURCHASE: > Increase "Assets:Material:Item #1" of 300 > Decrease "Checking account" by 300. > Increase "Expenses:Postage" of 10. > Decrease "Checking account" by 10. > > then there is no need to account for the shipping at time of sale > SALE: > Increase "Checking account" by 320. > Decrease "Assets:Material:Item #1" by 300. > Increase "Income:Sales" by 20. > > The difference between "Income:Sales" and "Expenses:Postage" is your > profit on the transaction and the difference between the balance of > the top level Income account and the top level Expenses account will > represent your overall profit. If you needed to know the profit on an > individual item you would add a subaccount to the Expenses:Postage > :Item #1. > > David Cousens > > > On Mon, 2024-09-30 at 18:47 +0200, Boniforti Flavio wrote: > > Hi all. > > I'm again stuck with a specific type of transaction and would like to > > have > > it validated (or corrected). Suggestions on how you would do it are > > welcome > > as well - I might not be using the most intuitive way of registering > > it. > > > > So... > > > > I bought an item for 300. Paid for it from my checking account. > > I paid for shipping separately 10. Paid for this as well from my > > checking > > account. > > Sold the item for 320, which was wire-transferred into my checking > > account. > > I have earned 10 from the transaction. > > > > I have created an account for that item: > > Assets:Material:Item #1 > > Also, I've added a shipping sub-account to it: > > Assets:Material:Item #1:Shipping > > > > Then I entered the split transaction as follows: > > > > PURCHASE = > > Increase "Assets:Material:Item #1" of 300. > > Increase "Assets:Material:Item #1:Shipping" of 10. > > Decrease "Checking account" by 300. > > Decrease "Checking account" by 10. > > As I also have an account for "Postage expenses", how would I have to > > register the 10 bucks I spent for shipping, so that it also accounts > > towards the postage expenses in general? > > > > SALE = > > Increase "Checking account" by 320. > > Decrease "Assets:Material:Item #1:Shipping" by 10. > > Decrease "Assets:Material:Item #1" by 300. > > Increase "Sales Surplus" by 10. > > > > Thanks (again) for your help! > > F. > > > > https://www.instagram.com/boniforti_music > > https://soundcloud.com/boniforti_music > > https://bonny-j.bandcamp.com > > _______________________________________________ > > 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. > > _______________________________________________ > 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. _______________________________________________ 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.
