V 2.4.11: depreciation transaction

[R. Victor Klassen]

1.  Create an asset for the truck.  Do not give it an initial balance.
2. Create an entry in your checking account covering the payment for the truck - the “category” is your new asset.
3. Create a second entry to cover the other items.

I’ve not done recurring items, but I’m told it’s doable.

As for the depreciation, do that at the end of the year, by taking the amount off of the asset and into a depreciation (expense) account.
Not sure about your rules, but I’m thinking that the first year you may only get to do $500, and then $1000 for four years, and the remaining $500 the final year.

You could set those up as recurring as well, don’t know it’s worth it.

On Mar 17, 2014, at 3:41 PM, CCAAT <ccaat at tampabay.rr.com> wrote:

> Hello gnucash,
> 
> It's been over a year since I posted; still a gnucash noob....
> 
> 
> I have a new transaction that I have never entered before, so
> I'm looking for advice and suggestions.
> 
> I bought a work truck for 5K, 350.00 in state taxes and 202.00 in one-time fees and 166.00 on the annual, recurring tag.
> 
> So how would I go about entering this to do a straight-line
> (1K/yr) 5 year depreciation on the 5K truck value, expense the
> taxes (350) and the (202.00) (as separate items) fees and set up the recurring 166.00 tag fees (as a tax) that is annually recurring?
> 
> Note I wrote one check for 5K to the owner and the all the other fees/taxes where in a single check to the State of Florida (718.00).
> 
> Go through the "Account Register" ?
> 
> Create a new entries ? Which ones what type?
> 
> How to handle the split entries?
> 
> Similar question filed? (how would I research this?
> 
> 
> 
> curiously,
> James
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