Re: problem adding parts

[Steve D. <sd...@sw...>]

Actually, from an accounting perspective you should probably invoice yourself
at the inventory's cost.
Then create a 3000 series account like below and book a journal entry like
the following:

dr.  2100 - Accounts Payable    10,000
cr.  3100 - Contributed Capital  -Inventory  10,000

You initial inventory is an owner's or shareholder's equity item in the
company.  Might be an issue if you start dealing with banks or auditors.
Ideally, your total investment in the company should be reflected in equity.

Dieter Simader wrote:

> You create a zero cost vendor invoice, the vendor in this case is
> you.
>
> Dieter Simader    http://www.sql-ledger.org   (780) 472-8161
> DWS Systems Inc.     Accounting Software       Fax: 478-5281
> =========== On a clear disk you can seek forever ===========
>
> On Thu, 16 Aug 2001, Don Wellington wrote:
>
> > I was thinking the same thing, until I realized that
> > it would screw up the double entry bookkeeping.  Which
> > then begs the question how do you put in initial
> > inventory without messing up the books balanced?
> >