Thank you everyone for those replies. They have been extraordinarily helpful. It is amazing how, when asking a question about something specific, a single sentence or even just a phrase in the reply can cause a lightbulb moment. I now have a much clearer understanding of how the basic mechanics of this work.
I think next task is to play with some reports, to see if I can answer the questions I might like to ask at the end of the year. - Patrick On Fri, 17 Dec 2021 at 17:41, Michael or Penny Novack < stepbystepf...@comcast.net> wrote: > 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. > _______________________________________________ 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.