John Summerfield wrote: >On Sun, 4 Aug 2002 17:15, [EMAIL PROTECTED] wrote: > > >>I will try to make the issue of company expenses and company inventory a >>bit clearer. >>Since this is an accounting issue it is not strange a lot of people have >>trouble seeing the finer points. >> >>Decision Flowchart: >> >>I buy physical goods > is this for sales purposes? >>YES > use partnumber, Wharehouse Inventory, use inventory stock in >>wharehouse >> (later sales : COGS, move from wharehouse) >>NO > If material expense (computer, car): post from invoice or >>bankstatement straight to >> appropriate General Ledger in the Balance Sheet section. Unless >>you want to liquidate or somebody >> offers twice the bookvalue those items are normally not sold. >> Do NOT use partnumber unless you want to, use depreciation as >>mentioned before via spreadsheet >> If small amount (loose chair, pens pencils and the like) : post >>to P/L (profit and loss) >> >> > > >I'm still confused. I've gone to Kansas, added a vendor, SmithBroughton. > >On my desk I have incoice with SmithBroughton's number 34801. > >I purchased at auction these items, and paid for them: >1 Total Perhipherals Tower c/w monitor, CDROM and keyboard. $125.00 >1 Lexmark Laser Printer $125.00 >2 Cofee tables and timber cupboard $5.00 >1 2-door timber bookcase $40 >2 swivel office chairs $60 >2 swivel office chairs %60 >1 whiteboard > >These goods are to be used as follows: >Computer - inventory >Lexmark printer - office equipment >Coffee tables - office furniture >Book case - office furniture >2 swivel chairs - office furniture >2 swivel chairs - inventory (being used at home). >1 Whiteboard - inventory (Mum wants it!). > > >Now, I'm at "Add Vendor Invoice." >Add computer - partnumber "comp-100" $125 >Click "update." item not on file. I can add that, back soon. >Added Printer-100 while I was at it. > >Okay, now I have two line-items on he invoice. If I try to add the coffee >tables the same way, it's going to add them to inventory in the same way. > >What have I missed? I'm posting this invoice. > >Done. > I'm sorry I didn't clarify this in my first post, John.
You actually go into the AP->Add Transaction screen to add the non-inventory stuff using the same invoice number. It requires another transaction. Just make sure the total booked equals the invoice total (see AP-> Reports->Transactions and select the vendor SmithBroughton) Also, on those last two inventory items in your example above, you probably should "sell" them to yourself and remove them from the company inventory. Anyway, see that trans. report for SmithBroughton - the first transaction is the inventory, and the second is the sum of the office furniture and equipment. That's how this would look. Ignore how the parts are set-up because I didn't fill the details in. Good luck, Steve > > > > > > >>I buy services > is this for sales purposes? >>YES > I am a middleman and buy 100 hours of consultancy for 100 and sell >>for 200 > see above after yes >>NO > If material expense (external services to say customize SQL at >>huge rates, lawyer fees that have effects >> on more than one future year, mining rights etc) see above >>'material' >> If small amaount (one year support contract for SQL etc) : post >>to P/L >> >>BTW: the official term for putting items on the Balance Sheet (i.s.o. >>P/L) is "activate". >>The only difference with a straight P/L posting is, that when activated, >>costs are spread over a number of years via depreciation. There is a >>similar bookkeeping 'trick' to spread earnings over more than one year. >> >>Hth, >>Paul >> >> >>-----Original Message----- >>From: [EMAIL PROTECTED] >>[mailto:[EMAIL PROTECTED]] On Behalf Of >>John Summerfield >>Sent: zondag 4 augustus 2002 9:37 >>To: [EMAIL PROTECTED] >>Subject: Re: [SL] How do I record assets? >> >>On Sat, 3 Aug 2002 23:21, Steve Doerr wrote: >> >> >>>I set one of these up on the KC demo under vendor Foo Enterprises, >>>invoice 45898 posted 08/03/02 and added a journal entry to record one >>>month's amort. expense for the table (straight line, 5yr life, no >>>salvage value - 1,665/60 = 27.75/mth) >>> >>> >>That computer is listed as "inventory." that's fine for goods >>you plan to >>sell, and it's even appropriate to depreciate it. >> >>Probably I shouldn't have mentioned depreciation-) It's not an >>immediate >>concern. Getting my books current so I can get my GST rebate is. >> >> >> >> >> >> >> >>------------------------------------------------------- >>This sf.net email is sponsored by:ThinkGeek >>Welcome to geek heaven. >>http://thinkgeek.com/sf >>------------------------------------------------------- >>(un)subscribe: >>http://lists.sourceforge.net/lists/listinfo/sql-ledger-users >>Archive: http://www.mail-archive.com/[email protected]/ >> >> >> >>------------------------------------------------------- >>This sf.net email is sponsored by:ThinkGeek >>Welcome to geek heaven. >>http://thinkgeek.com/sf >>------------------------------------------------------- >>(un)subscribe: http://lists.sourceforge.net/lists/listinfo/sql-ledger-users >>Archive: http://www.mail-archive.com/[email protected]/ >> >> > > > >------------------------------------------------------- >This sf.net email is sponsored by:ThinkGeek >Welcome to geek heaven. >http://thinkgeek.com/sf >------------------------------------------------------- >(un)subscribe: http://lists.sourceforge.net/lists/listinfo/sql-ledger-users >Archive: http://www.mail-archive.com/[email protected]/ > > > ------------------------------------------------------- This sf.net email is sponsored by:ThinkGeek Welcome to geek heaven. http://thinkgeek.com/sf ------------------------------------------------------- (un)subscribe: http://lists.sourceforge.net/lists/listinfo/sql-ledger-users Archive: http://www.mail-archive.com/[email protected]/
