[GNC] Another "multi-account" logical issue - any advice on how to register this?

[Boniforti Flavio]

Hi David.

Thanks for your feedback - along with all other replies and posts in this
thread! :-)

I will think about whether I want to consider the shipping expense as part
of the value of the goods I bought or not. I understand the difference and
keeping shipping costs separated from the goods value looks correct to me.
However, I always considered shipping costs as part of the goods value. I
thought "I paid 220 for this guitar, even though 20 are for shipping, so to
me it's worth 220" (I know this is wrong, because shipping doesn't add
value to the goods).

Thanks to everyone!
F.

https://www.instagram.com/boniforti_music
https://soundcloud.com/boniforti_music
https://bonny-j.bandcamp.com


Am Mo., 30. Sept. 2024 um 22:32 Uhr schrieb David Cousens <
davidcousens49 at gmail.com>:

> Flavio,
>
> Shipping is a service so it does not add to the value of your assets so
> it is simply an expense so the transaction becomes:
>
> PURCHASE:
> Increase "Assets:Material:Item #1" of 300
> Decrease "Checking account" by 300.
> Increase "Expenses:Postage" of 10.
> Decrease "Checking account" by 10.
>
> then there is no need to account for the shipping at time of sale
> SALE:
> Increase "Checking account" by 320.
> Decrease "Assets:Material:Item #1" by 300.
> Increase  "Income:Sales"        by  20.
>
> The difference between "Income:Sales" and "Expenses:Postage" is your
> profit on the transaction  and the difference between the balance of
> the top level Income account and the top level Expenses account will
> represent your overall profit.  If you needed to know the profit on an
> individual item you would add a subaccount to the Expenses:Postage
> :Item #1.
>
> David Cousens
>
>
> On Mon, 2024-09-30 at 18:47 +0200, Boniforti Flavio wrote:
> > Hi all.
> > I'm again stuck with a specific type of transaction and would like to
> > have
> > it validated (or corrected). Suggestions on how you would do it are
> > welcome
> > as well - I might not be using the most intuitive way of registering
> > it.
> >
> > So...
> >
> > I bought an item for 300. Paid for it from my checking account.
> > I paid for shipping separately 10. Paid for this as well from my
> > checking
> > account.
> > Sold the item for 320, which was wire-transferred into my checking
> > account.
> > I have earned 10 from the transaction.
> >
> > I have created an account for that item:
> > Assets:Material:Item #1
> > Also, I've added a shipping sub-account to it:
> > Assets:Material:Item #1:Shipping
> >
> > Then I entered the split transaction as follows:
> >
> > PURCHASE =
> > Increase "Assets:Material:Item #1" of 300.
> > Increase "Assets:Material:Item #1:Shipping" of 10.
> > Decrease "Checking account" by 300.
> > Decrease "Checking account" by 10.
> > As I also have an account for "Postage expenses", how would I have to
> > register the 10 bucks I spent for shipping, so that it also accounts
> > towards the postage expenses in general?
> >
> > SALE =
> > Increase "Checking account" by 320.
> > Decrease "Assets:Material:Item #1:Shipping" by 10.
> > Decrease "Assets:Material:Item #1" by 300.
> > Increase "Sales Surplus" by 10.
> >
> > Thanks (again) for your help!
> > F.
> >
> > https://www.instagram.com/boniforti_music
> > https://soundcloud.com/boniforti_music
> > https://bonny-j.bandcamp.com
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