Patrick, Agreed for business activities but for private non-business operating on a cash basis, unlikely to be necessary as per previous posts.
David On Mon, 2024-09-30 at 13:43 -0700, Patrick James via gnucash-user wrote: > 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. _______________________________________________ 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.
