Tutorial and concept guide chapter 9

Md. Aminul Islam Khan aikhanlab at gmail.com
Tue May 17 04:45:39 EDT 2011


On Mon, May 16, 2011 at 10:32 PM, Tom Collier <tom.collier at comcast.net>wrote:

>  Your question deals more with accounting/bookkeeping practices.
>
> My apology, if I have posted in the wrong forum, but the title of the
tutorial is:
*"GnuCash* Tutorial and Concepts Guide" so I asked here.

"Fixed assets" are things like buildings, fleet vehicles, land, equipment,
> etc.  "Current assets" are things that either ARE cash for a dedicated
> purpose, such as savings, checking, stocks, bonds, short term debts owed to
> you, reimbursements due from your employer for out of pocket expenses, etc.
> Generally, the determing factor for a fixed asset is whether you will keep
> the asset for a year or more. On the Expense side, you track the declining
> value of non-real estate fixed assets with a "depreciation" account.
>
> If you are using Gnucash in a business, you'll probably want a "fixed
> asset" account as well as a "current asset" account. If you are using
> Gnucash for personal financial management, simply to track checking, savings
> and a credit card, you probably don't need a fixed asset account.
>
> I am trying to use it for both.

aikhan

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