Stock

[Jill Terry]

Thanks Mark!  I was looking to see if there was a way I could hack it so 
thanks for the pointer! Otherwise I was just going to stick with QuickBooks.

Cheers
Jill

On 16/02/2015 00:58, Mark Phillips wrote:
> At the risk of taking you down the wrong path, I have used GNUcash to 
> manage a small number of items in an inventory. It has been awhile 
> since I did this, so there may be some gaps in my description, and I 
> may not be able to answer all your questions.There was a short 
> tutorial on this approach in the 'net - google for it. I may be able 
> to help with some specific questions, but mostly I just kept a 
> separate test set of accounts in GNUcash that I fiddled with until I 
> figured out how to manage the inventory correctly. I would only use 
> this approach for an inventory of a limited number of goods. However, 
> it was a little easier to integrate the inventory into GNUcash than 
> using an external spreadsheet, which is the only reason I used this 
> approach.
>
> The concept to understand is how gnucash treats financial stock 
> transactions. GNUcash does keep track of the number of shares 
> purchased and the price paid. When you sell the stock you sell both 
> units and have a total sales price plus other transaction costs, and 
> you can decided how you want to allocate the different priced stocks 
> to expenses (ie LIFO, FIFO, or some other way). At a bare minimum, 
> this is what is needed for a very rudimentary inventory.
>
> The way to manage inventory is to think of your widgets as individual 
> stocks and the stock purchase price is what you paid for the widgets. 
> Other transaction costs for a stock purchase and sale have analogs for 
> buying and selling widgets as well. Go through the stock tutorial and 
> you will see how to buy/sell stocks. Try it in a sample GNUcash chart 
> of accounts to see how the transactions work for your widgets. That is 
> how I figured out how to make it work for me. I used this approach to 
> manage about 25 SKUs and about 500 individual items. It worked for the 
> three years I owned the company, and then I sold it. If your needs are 
> simple, and you don't want to keep a separate spreadsheet, then try it 
> out.
>
> Further disclaimer - I am not an accountant, so this approach will not 
> meet any accounting standards in your region! Again, working with 
> inventory this way is very rudimentary and not supported by GNUcash 
> nor the mailing list (unless you make the mental translation between 
> widgets and stocks before you pose a question).
>
> There are lots of free open source ERP systems out there that you 
> could use. There were just too much of an overkill for my application. 
> I was already using GNUcash and I didn't want to switch to another 
> accounting program.
>
> Good luck!
>
> Mark
>
> On Sat, Feb 14, 2015 at 7:14 AM, Mike or Penny Novack 
> <stepbystepfarm at mtdata.com <mailto:stepbystepfarm at mtdata.com>> wrote:
>
>     On 2/14/2015 12:57 AM, Jill Terry wrote:
>
>         Thanks folks.  Seeing "Stock" in the menu I though perhaps it
>         could. That's a shame, I was really hoping to move my business
>         over to GnuCash.
>
>         Jill
>
>     Words that have more than one meaning can always cause this kind
>     of confusion. The "stock" in this case meaning "equities" (shares
>     of a corporation) as opposed to "inventory".
>
>     A complete business system can involve MUCH more than just the
>     accounting package. Depending on the sort of business might be
>     packages that do "inventory", "point of sales", "billable hours"
>     (both externally as charged to clients and internally tracking the
>     work of associates), etc. The complete business system, often sold
>     customized to the sort of business would have something to
>     integrate these different kins of record keeping with the
>     accounting part. In large business systems these would be by
>     "feeds" (in a large business system, those using it only can
>     access the portions within their authorization*).
>
>     AFAIK there aren't any open source projects either trying to
>     construct such integrated systems, possibly by combining the work
>     of separate teams doing this or that part. This would be a
>     difficult project for open source as in the other "world"
>     development usually driven by potential customer (enough that
>     would buy this set of packages to pay for the development -- if
>     the needs of your sort of business needs something else, too bad)
>
>
>
>     Michael D Novack, FLMI
>
>     * For example, the clerk at the checkout line is entering data
>     into a "point of sales" system but you would NOT want that clerk
>     to be doing the same to the financial books!
>
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