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

[Boniforti Flavio]

Hi Patrick.
I'm no business, I just want for my personal finances to be able to see
both how much I spent in postage costs/fees (for everything I've ever had
to ship/send), as well as how much that cost has added to an item I've
bought. This, because I make a simple calculation: when I buy an item I pay
for the goods itself *and* the shipping. When I sell the same item (again -
no business here, just private sale between private citizens), I'd like to
know how much I earned (surplus) or lost, considering the cost as an entity
made of the value of the goods and the shipping I had to pay.
So according to what you explained, I should actually not separate the
shipping I paid when buying the item - right? If correct, the transaction
would become like this:

PURCHASE =
Increase "Assets:Material:Item #1" of 310.
Decrease "Checking account" by 310.

Therefore the sale would be:

SALE =
Increase "Checking account" by 320.
Decrease "Assets:Material:Item #1" by 300.
Increase "Sales Surplus" by 10.
Increase "Shipping of sold goods" by 10.

Can you comment/validate the above?

TIA,
F.

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


Am Mo., 30. Sept. 2024 um 19:06 Uhr schrieb Patrick James via gnucash-user <
gnucash-user at gnucash.org>:

> One question you're asking is about the cost of goods sold (COGS), and how
> to determine what's included and excluded. There are two directions of
> freight, inbound and outbound. In the US inbound freight is generally
> included in the COGS and outbound freight (to the customer) is a cost of
> sales (monthly expense, never included in the inventory).
>
> Also it's time to mention that there are different systems of inventory
> (FIFO/LIFO/Specific lot/average cost).
>
>
> > On 09/30/2024 9:47 AM PDT Boniforti Flavio <boniforti.f at gmail.com>
> 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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