On 12/17/2021 6:44 PM, David H wrote:
Hi David,
Thanks, my bad I was thinking in terms of my personal Gnucash book not
realising it was more appropriate to be thinking in terms of business books
in Patrick's case. Lesson learned, glad I'm still learning after all this
time :-)
Not quite. It isn't a personal vs business difference but a difference
between what "paper" is for a business buying and selling paper (a
stationery business) vs a business buying paper just as "office
supplies". On the latter case, would immediately be an expense while in
the former, only expensed as inventory depleted.
Michael D Novack
PS: Not a "capital expense". The stationery business might have those
too, say its shelves and counters, etc. Those would be expensed as
depreciated. This instead would be under the asset category "inventory".
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