On 12/17/2021 6:48 AM, Patrick Skelton wrote:
Hi, David,
Thank you for that. I have actually just kind-of worked that bit out but I
would like the £8 spent on paper to become an asset. Is it simply then a
case of entering a transfer from Expenses-Stock Purchases to Assets - Stock
on Hand?
Kind wishes - Patrick
You were doing it correctly, Patrick. Your example appears to be a
"stationery" business, so you correctly had the purchase of paper go
into an asset "inventory" rather than being an expense. You also did the
sales transaction correctly, recording not just the part with the
customer but the part where you are now decreasing inventory and
recording an expense for the cost of that pad sold.
Michael D Novack
_______________________________________________
gnucash-user mailing list
gnucash-user@gnucash.org
To update your subscription preferences or to unsubscribe:
https://lists.gnucash.org/mailman/listinfo/gnucash-user
If you are using Nabble or Gmane, please see
https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.
