Purchases for customers and how to enter this

[bhcs_gnucash at nym.hush.com]

Hi all,

thank you for your replies to this (and Kash for the link). All 
appreciated. I feel I have a better understanding of things now, 
and I am getting gnucash set up to suit my needs.

I have got the Chargeback to Customer to tie in with that 
customers' next Invoice. I am open to correction, but I don't think 
gnucash is set to keep track of inventory (i.e. I was hoping to use 
gnucash to link purchases made as Stock until it is sold to the 
customer). So I think, for my needs, I will just do this manually 
(an extra transaction to deal with Stock - once it is sold to 
customer, I will transfer it from an asset to an expense). The idea 
being that at any given moment, I could run a report that indicated 
how much stock I had, how much I purchased for the year to date, 
and how much has been sold on to customers.

One thing I am unclear about from the gnucash Tutorials and 
Concepts guide.

In relation to a new Vendor Invoice, it states:

"Invoiced? - X means the item is attached to this invoice, an empty 
box means the item is not attached to this invoice. If the box is 
empty you can attach the item to the invoice by first selecting the 
item row and then clicking in this box."

I am a little unclear about this. What exactly does this field do? 
If I purchase items from a vendor, I presume it is part of the 
invoice by default, do I have to manually click this box every 
time?
Also, in practice, this field is always empty and non-editable when 
I create a new Invoice. Is this the case for everyone else?

Maybe someone could clear this up for me.

Thanks again for the help so far. I am very close to a set-up that 
will make things very quick and painless when doing "the books" for 
my small business.

Regards,
Ken


On Tue, 27 Nov 2012 12:47:14 +0000 "Robert Heller" 
<heller at deepsoft.com> wrote:
>At Tue, 27 Nov 2012 04:17:29 -0800 (PST) doughnut_nz 
><dplhunt at gmail.com> wrote:
>
>> 
>> Depends a bit on how you want to organise your business. One 
>possible,
>> simple, option is:
>> 
>> 1) When you buy the item
>>     Purchases (the item you bought) $100 debit
>>     Accounts Payable (Credit Card) $100 credit
>> 
>> 2) When you charge the customer
>>     Sales (the same item that you purchased) $125 credit
>>     Services Charges (for the work done) $50 credit
>>     Accounts receivable (your customer) $175 debit
>
>This could (should?) be done with an Invoice.
>
>> 
>> 3) When the customer pays you
>>     Bank $175 debit
>>     Accounts Receivable $175 credit --> This means the balance 
>of accounts
>> receivable is now zero
>
>If (2) was done with an Invoice, then a Process Payment handles 
>this.
>
>> 
>> 4) When you pay off your credit card company
>>     Bank $100 credit
>>     Accounts Payable $100 debit --> This means that the balance 
>of accounts
>> payable is now zero
>> 
>> ==========
>> There are lots of other ways of doing this, including ways to 
>combine
>> transactions so that you do not forget to charge your customer 
>but you
>> probably need to get to grips with the simple methods first 
>before getting
>> more complicated.  If you have an Accountant then you should 
>consult that
>> person.
>> 
>> Doug
>> 
>> 
>> 
>> --
>> View this message in context: 
>http://gnucash.1415818.n4.nabble.com/Purchases-for-customers-and-
>how-to-enter-this-tp4658175p4658176.html
>> Sent from the GnuCash - User mailing list archive at Nabble.com.
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>   
>
>-- 
>Robert Heller             -- 978-544-6933 / heller at deepsoft.com
>Deepwoods Software        -- http://www.deepsoft.com/
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