how to recors a layby
Rob Brown-Bayliss
on_the_net@clear.net.nz
19 Dec 2001 18:18:07 +1300
> Does this all make sense to you?
Yes, more so t hat the liabilite at least, so my asset grows with each
payment to the store,
Next question, my payments come from another asset account (savings at
bank), so I am transfering from one asset to another, total assets
remain the same correct?
So the camera gear is always an asset, but if I ever sell it I wont get
what I paid, at this point what do I do with the difference, the
depreciation? Pop it in to an expense account?
Truth is that for home accounts I did not see the point in recording
computers and other toys as an asset, cars and houses sure. Maybe I
should...
> BTW, in the US we call it a layaway. ;o)
And they say we speak the same language ;o)
--
Rob Brown-Bayliss
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