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From: gnucash-user <[email protected]> On
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Sent: Friday, October 25, 2024 7:11 PM
To: [email protected]
Subject: gnucash-user Digest, Vol 259, Issue 61
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Question: correct debit account for labor:
I have completely replaced my defunct Quicken with GnuCash, and now trying to
get the details fine-tuned:
I am using Job cost accounting for my business, my main resource is the
OpenStax book - "Principles of Accounting, Volume 2: Managerial Accounting"
page224 - 226
And a lot of internet searches...
Entering my labor, parts/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?
Thank you for a great accounting tool, and all your help.
Eric Hammond
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End of gnucash-user Digest, Vol 259, Issue 61
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