Eric,
This is an accounting question. I'd suggest you should instead be using
a 'Salaries Payable' or similar liability account for the labor portions.
This may or may not be the same text you are referencing, but check out
this explanation:
https://www.principlesofaccounting.com/chapter-19/tracking-job-costs/
(note, they break up the material, labor & overhead entries, but you can
certainly combine them if that fits your business better)
Regards,
Adrien
On 10/23/24 8:34 PM, Eric Hammond wrote:
Entering my labor, parts and supplies would look like this:
Assets:Jobs:xxxxxx:WIP 500.00
________:Direct Labor 120.00
Assets: Stock 20.00
________:Direct Labor 360.00
1. If I use "Expenses:Direct Labor" as the credit account then those account
balances are all negative (which, at least, looks weird in an expense journal)
2. If i use "Income:Direct Labor" the balances are positive.
With settings #2 all the tax reports look correct. I didn't check during #1
settings.
Which one is correct? Does GnuCash care about the negative balance? Is there a
better way log it?
_______________________________________________
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.
