Sell at Profit

[David T.]

Have you looked at the GnuCash guide? It offers a very brief explanation of double entry accounting principles, and in the chapter on capital gains, an example (admittedly somewhat unique) of how a sale for profit would be entered. 

 
 
  On Mon, Feb 29, 2016 at 13:38, E Rosenberg<wmcomputersystems at gmail.com> wrote:   Thanks to all -

The obvious statement is that I do not understand T accounts.  I will
try to solve that problem ASAP.

In the meantime, how would you handle a sale at profit?

TIA

Ethan

On Mon, Feb 29, 2016 at 8:32 AM, Mike or Penny Novack
<mpnovack at mtdata.com> wrote:
> On 2/28/2016 11:09 PM, E Rosenberg wrote:
>>
>> Hit the send button too early
>>
>> ......
>>
>> When I perform these two steps, ending with either a tab or enter:1]
>> The transaction is wiped out and 2] the balance is never updated.
>>
>> I can append screen shots, if that would be helpful.
>>
>> TIA
>>
>> Ethan
>
>  No, instead of screen shots, simply tell us what are you trying to do.
>
> a) Entering this as two SEPARATE transactions?
> or
> b) Entering this in a single SPLIT transaction?  << if you don't yet know
> about "split" yet, THAT is your problem. >>
>
> BTW, since I keep books for non-profits that (incidentally) sell goods,
> books, tee shirts, etc. I do this all the time. Both methods (depending how
> information reported to me). Both ways DO work.
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