How to deal with Inventory

[Wolf Skafte-Zauss]

Hi there
I'm just setting up gnuCash for my business. I sell door hardware over the
net.
I have setup Expenses:COGS:account for every product class and
Income:Sales:account for every product class
I have started doing the invoicing and it seems fine. The main issue I
have at the moment is how to account for stock on hand. I'm think like
this:
For each month end
1. run a report in Zencart to get stock on hand
2. enter this via a journal
3. run month end report

However what accounts to I journal?
I was thinking:
Assets:Stock:account for every product class and
Expenses:COGS:account for every product class.
Does that make sense?



Have a great day

Wolf Skafte-Zauss
Blue Wolf Internet Store
Architectural Door Hardware without the architectural price tag.
http://www.bluewolf.net.au