Capital equipment showing zero value

[Derek Atkins]

Hi,

On Fri, July 1, 2011 10:20 am, Mike or Penny Novack wrote:
> Henry Gomersall wrote:
>
>>I'm currently using Gnucash to keep the accounts for my (currently
>>small) startup.
>>
>>I recently purchased some equipment from the US, for which I entered a
>>bill in USD attached to the vendor, with the transfer from
>>Assets->Capital Equipment.
>>
>>Now I've (finally) managed to get the bill paid with the correct amounts
>>in all of the currencies (see note below*), and the capital equipment
>>register account contains the equipment, it just has zero value
>>associated with it, which is not what I want. Should I have added this
>>as an expense somewhere?
>>
>>
>>
> No, not an expense.
>
> We have to try to figure out what you did wrong. In generalized terms
>
> a) You had a transaction acquiring this (fixed) asset in return for a
> liability to the vendor (not from assets -- you didn't pay yet)
> b) You later liquidated this liability by paying the vendor
>
> This should have left a balance in capital equipment. Only the first
> transaction affected that account

Are you sure that the Captial Asset account has the correct currency?  A 0
tends to imply varied currencies between the Vendor, A/P, and Asset
accounts.

> Michael

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-derek

-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant