[GNC] Beginner Accounting Question Using GnuCash

[Michael or Penny Novack]

On 12/17/2021 6:44 PM, David H wrote:
> Hi David,
>
> Thanks, my bad I was thinking in terms of my personal Gnucash book not
> realising it was more appropriate to be thinking in terms of business books
> in Patrick's case.  Lesson learned, glad I'm still learning after all this
> time :-)
>
Not quite. It isn't a personal vs business difference but a difference 
between what "paper" is for a business buying and selling paper (a 
stationery business) vs a business buying paper just as "office 
supplies". On the latter case, would immediately be an expense while in 
the former, only expensed as inventory depleted.

Michael D Novack

PS: Not a "capital expense". The stationery business might have those 
too, say its shelves and counters, etc. Those would be expensed as 
depreciated. This instead would be under the asset category "inventory".