[GNC] New user account setup question

[Charles Hudson]

First post: Greetings to all and thanks for your help.  Because I have
never used GNUCASH before, am unfamiliar with its reporting capabilities
and am only conversant with basic accounting principles, I have a couple of
questions about how to set up the chart of accounts.  Briefly:

I want to track investments with some granularity.  For example, if I buy
the same stock more than once - at different times and perhaps at different
prices - I will need to account for these differences when I sell.  So it
seems to me that the hierarchy under Assets would be:

Investments (placeholder)
     > Brokerage firm account (placeholder)
             > Stocks (placeholder)
                     > Individual security, e.g. "XOM" (also a placeholder)
                               > Group or "lot" of stocks against which
transactions are recorded

So if I buy XOM at 50 in March and XOM at 60 in August and sell both lots
at 70 in October I have two lots, one with a short term capital gain of 10
per share and one with long-term capital gain of 20 per share.

Does this make sense or am I looking at it wrong?

Thanks for your replies.

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