2013-07-28 GnuCash IRC logs
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00:24:37 <hjf> hi all. i'm trying to understand gnucash.. well, i guess this is more an accounting question. suppose i have business: i can set the opening balances for my cash and checking account. now where/how do i add my stock? that is: if i buy something from a supplier, what kind of account should I put it in?
00:44:55 <smw> stock is an asset or an expense
00:45:17 <smw> it depends on how you look at it. If you intend to resell it and track that through gnucash, then it is an asset
00:48:41 <smw> hjf, then again, it is just about always an asset... if you make it an asset you can do things like mark lost stock as an expense :-)
00:50:10 <hjf> hm i see
00:50:22 <smw> hjf, disclaimer: I have never tried handling stock in gnucash
00:50:31 <smw> I just use it for personal finances
00:50:43 <hjf> thats what i was thinking, stock is an asset (cause it's something you have that has a value)
00:50:51 <smw> yep
00:50:59 <hjf> not an expense (something you have that...weelll, has no more value)
00:51:24 <smw> correct
00:52:40 <hjf> yeah my accountant told me to go visit her and she'll teach me the stuff
00:54:06 <hjf> i'm reading on gnucash's account payable
00:54:14 <hjf> it lets you enter invoices
00:54:19 <hjf> thats interesting
00:54:29 <smw> yep :-)
00:55:02 <hjf> but i dont understand, do you throw all invoices in a single a/p account?
00:55:12 <hjf> or do you create an account per supplier or something?
00:56:48 <smw> That is up to you.
00:58:31 <hjf> hehe
00:58:38 <hjf> i'm still confused though
00:59:15 <smw> confused about what?
00:59:20 <hjf> with the whole "basic accounting" i guess
00:59:28 <hjf> cause, yes, stock is an asset
00:59:50 <hjf> but i don't care about how much money "my business is worth"
01:00:03 <hjf> but rather, how much money i'm making :)
01:00:38 <smw> hjf, that would be profit and loss
01:00:44 <smw> (see the reports)
01:01:26 <smw> if you want to know how much money is coming in vs going out (not the same thing as profit/loss!) check out the cash flow report
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04:25:57 <mikee> @op
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19:34:10 <pete_> Hello. I'm running gnucash on debian squeeze. When I purge gnucash, then delete ~/.gnucash and ~/.gconf/apps/gnucash (and anything else in my system that is named gnu cash), after reeinstall, I STILL get an error about a missing gnucash file. How do I COMPLETELY get rid of gnucash and all of it's settings? I've looked everywhere on google and come up with nothing. Your help is greatly appreciated
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22:08:20 <smw> In the budget, is it possible to specify a budget for an account that includes all subaccounts?
22:09:24 <smw> In the budget report, I would like to see "Expenses" have a fixed budget and not change as I change its sub accounts
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