Inventory and payroll
Tue, 12 Sep 2000 20:52:08 +0530
Well the number of mails generated on the topic warrants somebody to take
"stock" of the situtaion ;-)
My views are as under :
1. Well we have hit bulls eye when we say that Gnucash already handles stock
when it does the accounting for number of shares.
2. The purchase price of shares should include I think all costs to get the
shares in your custody ( ie brokerage, commissions etc) These should be
added to cost.
3. Well i have not tried how Gnucash handles sale of shares, but in case of
securities we can easily identify which securities are sold..unless the
transactions are really many..but in inventory the issues need to be costed
based on a formula like First in fisrt out-FIFO or weighted avg or something
like that..that is important in inventory applications where raw material is
isuued for production and not direct sale.. the program should automatically
fix the price of issues for production.
Pl send your comments..