How to accommodate my own house construction costs in gnucash accounts?

Yaaros vinod.vadakut at outlook.com
Wed Mar 30 09:14:39 EDT 2016


Colin Law wrote
> On 30 March 2016 at 13:00, Yaaros <

> vinod.vadakut@

> > wrote:
>> Thanks Colin!
>>
>> Since the House is going to be my fixed asset, I just want to get the
>> same
>> reflected in Assets group also...I'm not sure if its the right way...so,
>> please advise
> 
> Please quote the previous message when replying, this is a mailing
> list not a forum (though you may be accessing it via a forum-like
> interface).  Thanks
> 
> You did not say that.  Start an Asset account called House, or
> whatever, and presumably start by transferring the value of the land
> into it.  One way to handle it would then be to transfer money out of
> the top level Expenses:house into that asset account as you think the
> value accumulates.  Then the total of Expenses:house with all
> subaccounts would reflect the net cost of building it.  I expect there
> are other ways you handle it also.
> 
> Colin
> _______________________________________________
> gnucash-user mailing list

> gnucash-user@

> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

Thanks Colin!

I've created the below accounts, and have shown other relevant accounts
also. Now, just confused about money flow entries...Most of the
materials/labour charges are paid from 'cash in hand' and the remaining
through cheque. So, in normal case the accounts reflected are 'cash in hand'
and 'Labour' or 'Materials'..... then how to pass it to Assets->House
also... I mean which accounts are to be credited and debited...

Assets
    Cash in Hand
    Bank Savings Account
    Bank Checking account
    House
Expenses
    House Building
         Materials
         Labour
Income
    Salary





--
View this message in context: http://gnucash.1415818.n4.nabble.com/How-to-accommodate-my-own-house-construction-costs-in-gnucash-accounts-tp4684023p4684030.html
Sent from the GnuCash - User mailing list archive at Nabble.com.


More information about the gnucash-user mailing list