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From Metin Akat <>
Subject Re: FIFO/LIFO accountancy
Date Wed, 03 Feb 2010 16:06:52 GMT
Unfortunately, we can't do that. The government requires that the
company pays taxes, which are a certain percentage from the profit.
There are things like VAT involved (which depends on the profit of
each separate apple, so that needs to be traceable) I won't go into
further detail on why we need the profit accounts and separate
transactions, and why we need to take out apples from the warehouse at
their cost. It's very complicated, but that's not important at the
moment, because that's not the question I'm asking.

The question I am asking is how do we make it fault tolerant.
Numbering batches is one of the things we are thinking for. But yet,
how do we ensure that one batch won't go to a negative balance (if 2
cashiers sell apples at the same time)?

On Wed, Feb 3, 2010 at 5:52 PM, Alan Bell
<> wrote:
> Metin Akat wrote:
>> 4. Lets sell 6 apples to a customer, 5 dollars each. I won't go into
>> much detail on why this is required by accountancy standards but if we
>> use FIFO here, we must issue 2 transactions. One removing 5 apples at
>> 2 dollars and another, removing 1 apple at 3 dollars. The profit is
>> recorded in another account where it's 5x3 = 15 for the first
>> transaction and 2x1=2 for the second transaction.
> I am a bit puzzled by the need to do this. FIFO stock control is one
> thing, and you could put dates on your batches of stock and have them
> degrade over time if they are fresh produce, that would get you the
> ability to control the sequence in which they are sold. Ultimately from
> your description apples are apples, you are selling them all at $5. I
> don't understand why you are crediting the warehouse at the cost price
> though.
> I would put in a transaction like this:
> { "action": "CREDIT", "account" : "warehouse", "value": 30, "asset":"apples", "qty":
> so now your warehouse view would show a stock level of 4 apples and an
> overall positive balance of $5, which you can sweep into another account
> later.

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