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You mean this isn't a feature already? Wow. I don't even want to consider a guild of my own until there's a way I can make sure all guild items and money can be accounted for with a system like this - especially since my guilds all tend to be merchantile in nature. Not being able to properly inventory my guild's items would make a merchantile-themed guild almost impossible to do without it becoming a massive headache...

Personally I think this log already exists so there isn't much time required to dedicated developing. At most it needs a parser/filter so that it can be accessed by players flagged as GL.
People here answered "yes" to the "necessity" question bringing up a lot of situations when such a log would be necessary.

You can inventory guild items just fine. What is being talked about here is an accessible log of which homin put in items or took out which items, an entirely different kettle of kinchers.

It is possible to do a self-reporting record by using the guild forums. Just have each person say what they've done. The problem there is getting people (even honest and trustworthy people) to remember to do the recording. :)

Faa -- what reason do you have to believe that the log exists? I would expect that transactions simply result in a flag in the toon's database and one in the GH database being changed to reflect what was done. There is no necessity for a continuous record of all the transactions.

I agree that it might be nice to have this feature. I disagree that it will be simple to code (though our pet developer might want to weigh in on that). It's useful, and desired, but clearly not a "necessity" as we have gotten along without it for all these years. I see it as the equivalent (but possibly trickier to implement) of being able to craft from our apartments. We may finally get it, but it doesn't seem like a high priority item.