Merchandise for future selling, an asset or an expense?
Sorry for my inexperience here.. It's just a hobby that found a way to kind of park money (like investment such as stocks or crypto) and fund my hobby expense. I've been buying a lot of merchandise that some will sell in a week, some in the next few quarter, some after a few years. So, okay maybe it's a small business but not enough to make it significant. I would keep some but most will be resold at a higher price in the future.
I've been entering them on YNAB as an expense so it seems the expense report is high although the merchandise is with me. Is there a better way of managing these items?
I would consult a tax professional on this. Not because of YNAB but because the of the complexities in taxation on the profit.
For YNAB it doesn't matter if it's an expense or asset. When you buy it the money leaves the budget so it looks the same. The only difference is whether you have a tracking account showing the asset value.