[GNC] How to handle inventory assets in GnuCash?

[R Losey]

I guess it would depend on how detailed you wanted to be... you could
create an Inventory asset category, and create as many sub-categories as
you need to.  Purchases add to the inventory; sales delete from it, etc.


On Tue, Dec 20, 2022 at 8:55 AM Eric Chapman <ecnews at etchapman.com> wrote:

> I am wondering how, in GnuCash, to account for assets bought to resell
> or other assets that will later be expensed as used.
>
> I'm in the USA context. As far as terminology goes, I think UK and other
> English speaking locales use the word "stock" to refer to inventory,
> but, in my experience, that is not common in the USA (indeed, the first
> definition of "stock" from Apple Dictionary: "the goods or merchandise
> kept on the premises of a business or warehouse and available for sale
> or distribution"; that is basically the definition of "inventory" at the
> bottom of the wiki article referred to below). I will try to use the
> word "inventory" so I do not confuse the term I'm talking about with the
> one meaning ownership securities of a company ("He owns 100 shares of
> XYZ Company stock.").
>
> I found something relevant in the wiki:
> https://wiki.gnucash.org/wiki/Inventory_Handling. Best I can tell,
> GnuCash does not have any dedicated way to handle inventory flows:
> purchases, sales, revaluations for market fluctuations, identification
> of lots/batches).
>
> If I want to deal with inventory now in GnuCash v. 4.13, any best
> practices? I'm not talking about massive amounts of items or quantities.
>
> Thank you!
> Eric
>
>
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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8