Noob Question

[Robert Heller]

At Tue, 15 Apr 2008 21:44:47 +0800 Rudi <rudi at informationobject.com> wrote:

> 
> Hi,
> 
> I've started using GnuCash and this is the first time I have
> ever really used any personal finance manager.
> 
> So far it is outstanding and I've worked my way
> through the docs and have things working very well.
> 
> I do have a basic accounting question I'd like to post.
> 
> I've recored a transaction for a new digital camera.
> 
> Cash from my 'Asset' bank a/c goes into the 'Expense'
> account ( I selected 'Computer' as it's digital hardware ).
> 
> That all work's great and the cash transaction is recorded
> fine. My question is regarding my new physical asset.
> 
> The item, a digital camera, where would I record this new asset?
> 
> The cash flow has been recorded in GnuCash from my
> Asset:Bank Account to my Expenses:Computer but the actual
> physical item, the camera, is an asset now too.
> 
> Things like this new asset should be recorded elsewhere
> or in other 'Inventory' type software?
> 
> Apologies if this is off topic but I'm just not sure where
> to record the value of the physical 'Asset' items I posses.

At present, GnuCash does not have support for Inventory as in physical
objects.  GnuCash just records the cash flow.  At least that is my
understanding of things at present.  GnuCash's idea of assets means
actual money (eg cash in hand or bank accounts) or financial instruments
(eg stocks and bonds and such).  And no I am not an accountant, nor do I
play one on TV :-).

> 
> Any advise much appreciated.
> 
> Thanks.
> Kind regards,
> Rudi.
> 
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
> 
>                  

-- 
Robert Heller             -- Get the Deepwoods Software FireFox Toolbar!
Deepwoods Software        -- Linux Installation and Administration
http://www.deepsoft.com/  -- Web Hosting, with CGI and Database
heller at deepsoft.com       -- Contract Programming: C/C++, Tcl/Tk