[GNC] What account name do you use to record the apartment/house expenses related to the building?
john
jralls at ceridwen.us
Tue Apr 16 13:47:49 EDT 2024
> On Apr 14, 2024, at 17:45, Oleander via gnucash-user <gnucash-user at gnucash.org> wrote:
>
> Hello,
> is "Housing" a proper account name if I want to include only my apartment expenses like Rent/Mortgage and Repairs&Maintenance? I'd like to record my Utilities expenses separately within another account so that my "Housing" account adds up only the expenses related to the building.
>
> If not, what would you use?
Rent is an expense but if you're renting then maintenance should generally be the landlord's responsibility. A mortgage means you own the place and the payment gets split up into one or more expenses (at least interest; maybe insurance, fees, and others depending on the terms of the loan) and principal payment that reduces the loan amount. Property owners also need to distinguish between maintenance and improvements: The latter increase the value of the property, the former are an expense.
Regards,
John Ralls
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