Need Help with Household Chart of Accounts

[Paula Hendricks]

i do separate out longer lasting items from shorter -- so i have household: furnishings and household:supplies... if you want to track like items make up some kind of category for them... and yes i also have a separate category for those items to be tracked for tax purposes like computers etc.

       ph

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paula hendricks ~:~ cinnabar bridge communications
writing ~:~ photography ~:~ book design
san francisco ~:~ 415.975.0950

On Feb 12, 2013, at 6:38 AM, Colin Law wrote:

> On 12 February 2013 14:33, Mark Phillips <mark at phillipsmarketing.biz> wrote:
>> Where would I put the money spent purchasing new dishes, a TV, tableware,
>> etc.? Would one really create an asset account for these things, or just
>> expense them? What would you name the account(s)?
> 
> You only need an asset account if you want to keep track of their
> value after purchase.  So for something like a car you might have an
> asset account and then depreciate the value over a period till you
> sell it again.  For household stuff you probably don't want to do that
> so just have an expense account.  I have one Expenses:Household for
> such items.
> 
> Colin
>