I (finally) started seeing an accountant for the first time the other day, and he recommended that have my business take ownership of my computer, printer, etc. so that it can be deducted or depreciated, for the "fair market value" of the items. How about I go about entering that in SL? I presume I would create an account of some kind, and make a transaction between that account and "Office Supplies" (5700 in the US default chart of accounts)?
Also, when I created my initial balances I created an "Initial Balances" account. I'd originally set it as an "Income" account, but noticed this showed up on my Income Statement, which doesn't seem right. So, I changed it to an "Equity" account--is that right or what should it be? How does one actually record the cost of shipping for a part ordered/received? I see the "freight" field in a purchase or sales order, but not on the vendor invoice. I see it in the customer invoice too, but it seems to be shipping method, not rate. Finally (and I know this has been asked before, I just can't remember what the answer was or find it again), how does one transfer a part bought with a vendor invoice to business expense? Should I create a customer invoice for myself and "sell" it to myself? I've mostly been entering miscellaneous office parts in the General Ledger. Now that I look at it, I should probably be entering them through AP->Add Transaction. But what if, for example, I purchase an item for office supply along with a purchase of a number of items for resale? Okay, that wasn't the last question. How do I record mileage expenses? Does someone have a better list archive than geocrawler that's easier to search? Wil -- Wil Cooley [EMAIL PROTECTED] Naked Ape Consulting http://nakedape.cc * * * * Linux, UNIX, Networking and Security Solutions * * * * QCSNet http://www.qcsn.com * * * * T1, Frame Relay, DSL, Dial-up, and Web Hosting * * * *
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