2023-02-12 GnuCash IRC logs
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06:44:15 <aleksandr> Hi, everyone! Could you please give me advice on accounting for selling a small personal item. Let's say I sold my old guitar for $100. How should I register that? As an Equity entry transfering to my Cash account?
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15:54:23 <jralls> aleksandr To be formal and correct you'd create a commodity and an account for the guitar and record its purchase, depreciation, and sale as explained in Chapter 9 of the Tutorial and Concepts Guide.
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15:55:16 <jralls> aleksandr If after all that there was a capital gain or loss you need to book that too see chapter 11.
15:56:21 <jralls> aleksandr, But that's likely too much trouble so you could also just create an income account for sale of personal goods and balance the sale with that.
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16:44:42 <aleksandr> jralls thank you for your response. I don't think it's reasonable to track depreciation of value of a small item. When I sell the commodity I realize I have it and it's value, so I figure this should appear in my Equity tab transfering to Assets -> Small items. Than I transfer from Small items to Cash, so in fact I get no income.
16:45:56 <aleksandr> Do you think the way I just described is reasonable?
16:46:00 <jralls> aleksandr, that will certainly work.
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19:07:12 <chris> jralls iirc 759 was broken in linux too, i'll try fix when i find the time
19:09:04 <jralls> chris, do you mean that chartjs 3 is broken in linux? All I did was apply it and try to run an asset bar chart. I got a blank page.
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