How to deal with Inventory

[Derek Atkins]

"Wolf Skafte-Zauss" <wolf at bluewolf.net.au> writes:

> 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?

IANAA but yes, this makes sense.  You would go from:

  Assets:Checking -> Assets:Stock:<class>    [ Buying Inventory ]
  A:S:<class> -> E:COGS:<class>              [ Selling Inventory ]
& Income:<...> -> A/R

Keep in mind that GnuCash really doesn't have an Inventory
system in it, so a lot of the inventory management needs to
be done by hand.

-derek
  
-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available