When you buy a house
2000-01-01 * "buy a house"
Assets:Bank:Account -100,000 USD
Assets:House 1 HOUSE @100,000 USD
When you spend money improve it
2001-01-01 * "remodel"
Assets:Bank:Account -1000 USD
Assets:House 1000 USD
In the end when you sell the house
2002-01-01 * "sell"
Assets:House -1 HOUSE @200,000 USD
Assets:House -1000 USD <-- manually specify all the cost you spent on the
house so the balance would be 0 after this transaction
Assets:Bank:Account 200,000 USD
Income:House:PL <-- absorb unbalanced numbers here, this is your
profit/loss from the buying-selling of the house
On Tue, Oct 10, 2017 at 10:23 AM, Cary Kempston <[email protected]> wrote:
> Hi,
>
> I have a question that I haven't seen asked before, and I'm wondering
> how best to approach since I'm sure someone's dealt with this before.
>
> Based on previous posts to the list [1] I track the value of my house
> as an asset (e.g. "MAIN-ST-123") and occasionally add price directives
> to update the price. We're planning on doing some major improvements
> such as adding air conditioning that will increase the value of the
> house. It's easy to update the price, but what's the best way to
> track the cost of the improvement (the other leg of the transaction
> where I pay the contractor)? I'd rather not book it as an Expense
> since that will throw my income statement off. Should it be booked
> against an Equity account instead, like this, along with a new price
> directive?
>
> 2017-10-01 * "install air conditioning"
> Assets:Bank:Checking -5,000.00 USD
> Equity:Main-St-123:Capital-Improvements
>
> The other reason I'd like to track this is that it increases the cost
> basis of the house, which I'd like to track for when we sell it.
>
> Thanks,
> Cary
>
> [1] https://groups.google.com/d/msg/beancount/bw6xa-xa7Kc/Hm-Igmq1CwAJ
>
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--
Yuchen Ying
https://about.me/yegle
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