Noob Question

Rudi rudi at informationobject.com
Tue Apr 15 11:30:16 EDT 2008


Hi,

Thank you kindly for the replies they are indeed
a great help.

I think for now I'll try Maf's suggestion and create
a  "Asset:Possessions" account.

It makes clear sense. I guess every year or so
I could revise the items in the Possessions account
and factor in the depreciation into an expense account.

It feels good keeping all my 'stuff' and cash records
in one piece of software ...

Thank you GnuCash :-)

Kind regards,
Rudi.


Maf. King wrote:
> On Tuesday 15 Apr 2008, Rudi wrote:
>
>   
>> That all work's great and the cash transaction is recorded
>> fine. My question is regarding my new physical asset.
>>
>> The item, a digital camera, where would I record this new asset?
>>
>>     
>
> Hi,
>
> If you create a new "Asset:Possessions" account, you record your purchase not 
> as an expense (your net worth hasn't really gone down - you have 
> changed "money" asset into "camera" asset) but a transfer between your bank 
> and the asset:possessions account.
>
> Depreciation over time is the expense, as the camera ages and becomes less 
> valuable.
>
> HTH,
> Maf.
>
>
>   



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