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The featured file for April is an assortment of soda machine labels. This file, submitted by vendcobros, is one of our most popular files and includes high quality, printable labels for popular brands like Pepsi, Mountain Dew, Dr. Pepper and more. Download It!

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Gnucash for accounting

- - - - - gnucash accounting

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2 replies to this topic

#1
Pops

Pops

    Noob

  • BASIC +
  • 11 posts
  • State:GA
  • Vending Type:Full Line
  • Vending Since:2013
Anyone using gnucash accounting software for accounting your vending business?

I just started playing with it. I have it set up fairly well except for the inventory/cost of goods piece. Currently I have cost of goods as an asset. It seems like their should be a corresponding expense for it?
Also I don't understand how enter sales so that it depletes cost of goods?

It seems like this should be a simple topic that has been thoroughly covered and solved in the past, but I am struggling to find an answer both online and on this forum.

#2
amc-vending

amc-vending

    Add your text here

  • PROFESSIONAL
  • Others: SUPPORTER
  • 824 posts
  • State:Texas
  • Vending Type:Full Line
  • Vending Since:2009
cost of goods is a special expense account for your cost of goods.

you need a asset account named "inventory" or something like that

#3
Pops

Pops

    Noob

  • BASIC +
  • 11 posts
  • State:GA
  • Vending Type:Full Line
  • Vending Since:2013
So how do I book-keep this basic scenario:
purchase inventory with credit card
and then I go to collect cash from machine and restock using the inventory

Booking:
  • credit card is charged transfers to inventory increases?
  • Sale is income transferred to pay credit card
  • and inventory is charged transfers to cost of goods sold?