how to register renovations to fixed assets
mertensb.mazda at gmail.com
Mon Oct 31 08:19:37 EDT 2016
I'm fairly new to gnucash and I'm looking for some advice on how to
register renovations to a fixed asset.
I'll be renovating an apartment, the purchase price of the property itself
has been registered as an asset while the cost of the purchase (notary
etc.) have been registered as expenses.
How should I register things like a new kitchen or new windows?
The purchase of these investments consists of a part expenses (delivery,
installation) and a part that will contribute value to the fixed asset.
So while I might simply split the transaction like that it feels wrong
because the actual value of the asset will not increase with the total
value of the kitchen/windows will it?
If I want to sell the property later these renovations will have increased
the value but not for the same value I need to pay for them.
How can I deal with this?
I've found some different views in the archive but those situations were
slightly different so I'm hoping for some general advice.
Thanks in advance
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