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

[David Cousens]

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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