On 10/29/07, Robert Fraser <[EMAIL PROTECTED]> wrote: > Hi > > Can someone tell me how we can expense an item of inventory if we end up > using it within our business.
I think that this sort of question is going to get a lot more attention as we move towards 1.4 and start looking at fixed asset accounting functionality. > > As an example, say we buy 10 yhard drives. These get entered into the > inventory, and the inventory is adjusted as we sell them to customers. We > sell 9 hard drives and use 1 hard drive in one of our busniess's servers. > How do we make this last hard drive a business expense and make sure that > the inventory is still reduced by 1 item? Do you need to depreciate the hard drive? If not, just create a dummy customer (maybe "internal use" and sell it to that customer at a 100% discount. If you do, then it becomes more complex. Thinking through this-- I would create a new asset account that is a summary AR account for asset conversions. I would then sell it to yourself at cost and record in that AR account. Then you can use various GL transactions to move the money around for depreciation. > > I assume we could invoice ourselves, but this doesn't feel quite right. > IANAA, so I'll admit some clueless-ness up front ;-) We certainly need a better interface for this sort of issue, but yes, it comes down at the moment to invoicing yourselves. The specifics however may depend on whether this is a capital asset or not. Best Wishes, Chris Travers ------------------------------------------------------------------------- This SF.net email is sponsored by: Splunk Inc. Still grepping through log files to find problems? Stop. Now Search log events and configuration files using AJAX and a browser. Download your FREE copy of Splunk now >> http://get.splunk.com/ _______________________________________________ Ledger-smb-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
