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

[Patrick James]

For whatever reason, we live in a world where location does matter, and the value of a good changes with its location.

If the value of a good did not change with location, there would be no shipping.


> On 09/30/2024 1:32 PM PDT David Cousens <davidcousens49 at gmail.com> wrote:
> 
>  
> 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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