Asset Account Computer Hardware

[Derek Atkins]

Hi,

Quoting Tony Nelson <tonyn at openlearning.com>:

> Hi All,
>
> I have an Asset Account called Computer Hardware, which is there (I
> believe) so that I can track hardware assets that need to be depreciated
> at the end of year by my accountant.
>
> Ok, let's say I buy a computer with my credit card.
> I enter the transaction in my Credit Card  liability account specifying
> computer hardware as the expense type.

Bzzt.  Don't use an Expense.. Use your asset account.  So it would go
from L:CC -> A:Computer

> That all works, but, the hardware transaction does not show up
> automatically in the Computer Hardware asset account.
>
> Do I need to manually enter it in two places?

Nope.  It's not an expense when you buy it.  The expense comes when
you depreciate it.

> Thanks in advance,
> Tony

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
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