fixed assets

[Elmar Schmeisser]

Ah!  this makes sense.  thanks.


On 6/11/2016 10:40 AM, Colin Law wrote:
> On 10 June 2016 at 23:42, Elmar Schmeisser <eschmeisser at nc.rr.com> wrote:
>> I have a question on how to update the value of fixed assets (car,
>> house, etc.).  One can of course assign a value when the asset is
>> created in GC, but what account does the appreciation/depreciation come
>> from? - Elmar
> 
> If there are no legal or tax implications that mean you have to do
> something more complex and you just want to track the current value
> then you can just have an expense acct into which you transfer some of
> the value.  For example for tracking the current value of my car I
> have an account Expenses:Motor:Depreciation that I transfer into (I
> use a scheduled transaction). If it were an increasing asset then you
> could have a similar Income acct.
> 
> Colin
>