Newbie with a startup business

[David Brock]

On Wed, 2004-08-25 at 11:59, Pierre Abbat wrote:
> I'm starting a business and I have a few transactions to put into the GnuCash 
> file. I set up a chart of accounts and am not sure what to do next. I have a 
> homegrown database with transactions and accounts, where each supplier is a 
> separate account. Here's an example transaction set:

First, IANAA.

You're going to have to account for your inventory in one of two ways:
As an Asset, containing the value of the inventory
-or-
As an Expense.

That allows you to consider the last two conditions as monetary,
leaving: (I've considered Inventory an Asset)

> 2004-03-26: Credit the friend who's helping me start, debit cash $A+B.
Dr: Asset:Cash			$A+$B
Cr: Liab:Partner			$A+$B

> 2004-03-26: Credit cash, debit supplier ALM $B.
> 2004-03-26: Credit cash, debit supplier EOU $A.
(you pay for the goods, but they're not received yet)
Dr: Asset:Inv. Recvbl		$A+$B
Cr: Asset:Cash				$B
Cr: Asset:Cash				$A

> 2004-04-05: Credit EOU, debit inventory $A.
(you receive the goods from vendor EOU)
Dr: Asset:Inventory		$A
Cr: Asset:Inv.Recbl			$A

> 2004-04-10: Credit ALM, debit inventory $B.
(you receive the goods from vendor ALM)
Dr: Asset:Inventory		$B
Cr: Asset:Inv.Recbl			$B

Note: When Inventory is an Asset, you'll have to create a debit entry in
the Asset when you dispose of (ie, sell) it.  This is the case if you're
inventorying a product that you're selling, like flowers or blue pills. 
If your inventory is more like cleaning product, because you're a
cleaning service, then it's more natural to consider it an expense.

Is that what you were asking? (rather than technically importing the
data from your app)?

;-D