Asset Account Computer Hardware

[Mike or Penny Novack]

>
>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.  
>
>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?
>  
>
No Tony, you enter the transaction just once, credit card liability 
account on one side and computer hardware asset account on the other. 
It's not an expense item but the purchase of an asset. It's the eventual 
depreciation of the computer that is an expense.

Michael