Entering depreciation

[jcard21 xxxxxxx]

On Wed, Jan 1, 2014 at 1:53 PM, Carpetnailz
<carpetnailz at researchintegration.org> wrote:
> On Wed, 2014-01-01 at 13:44 -0500, jcard21 xxxxxxx wrote:
>> On Wed, Jan 1, 2014 at 1:36 PM, Carpetnailz
>> <carpetnailz at researchintegration.org> wrote:
>> >
>> > I want to enter depreciation for my car. What's not clear to me is what
>> > I should put into the 'Description' field. I will credit 'Assets:2012
>> > VW' for the amount and debit 'Expenses:CarDepreciation'.
>> >
>> > Do I need to put something in the 'Description' field? Should I just
>> > create an entity called 'Our Family'? Is there some standard way to do
>> > this in accounting?
>> >
>> > Thanks.
>>
>> You could try reading here to see if this helps you:
>>
>> http://www.accountingcoach.com/depreciation/explanation
>>
> I think I understand that stuff. My question was much more specific:
> Using the GnuCash system, one put a name in the Description
> field--either who received the payment or who the $$ came from. So when
> entering a depreciation entry, what name if any do I put in that field?
> Or can/should I just leave it blank?
>
> BTW-I know I'm ignoring the 'cost principle' by not making a "contra
> account." But that's neither here nor there with respect to my question.
>
> Thanks.

Put in the Description field whatever you want ... something that
would identify this auto depreciation from any other assets you are
depreciating.

Also, maybe someone else can jump in with a different suggestion.

-- 
jcard21