On 6/26/2023 5:01 AM, Jeff wrote:
Thanks Michael and David for the helpful suggestions.
It looks like I was sort of on the right track. These write-offs will
be very irregular (have not needed to do any for the last 6 years) so
I think I'll go along the lines suggested by David. Just now
Thanks Michael and David for the helpful suggestions.
It looks like I was sort of on the right track. These write-offs will
be very irregular (have not needed to do any for the last 6 years) so I
think I'll go along the lines suggested by David. Just now need to get
my head around it.
Jeff,
The following treatments are generic from a basic accounting textbook and should
not be taken as accounting advice that is relevant to your specific
circumstances.
This is the direct write off method:
You write it off as an expense to the COGS account i.e credit the
Asset:Inventory
On 6/25/2023 1:42 AM, Jeff wrote:
Hi List,
This is more a general accounting question than specifically a GnuCash
one, but thought there might be better help on the list for it.
Issue:
I have some stock that is either obsolete, or otherwise no longer fit
for sale. Just wondering what
Hi List,
This is more a general accounting question than specifically a GnuCash
one, but thought there might be better help on the list for it.
Background:
I use GnuCash for business use, and track the purchase of inventory.
This goes into an Inventory Account
When sold, the sale gets
