On Fri, 2003-07-11 at 06:29, Jon Lapham wrote:Something like this:
-Assets + $300 -Computer + $1500 <- the "asset cost" account -Computer depr - $1200 <- the "accumulated depreciation" account -Expenses -Depreciation + $1200 <- the "depreciation expense" account
For me, it seems that the "depreciation expense" account is always equal (but opposite sign) to the "accumulated depreciation" account... in this simple example anyway.
Well that was my initial thinking, Matthew pointed out some obvious flaws in my reasoning :) The above seems to correctly allocate depreciation expense, but I'm not sure how to track the depreciation.
Well, the depreciation is tracked in the "Assets:Computer depr" account in the above example. Or, do you mean, that there is no way to see what the current value of the asset is without doing math by hand?
If this is what you mean, then what do you think of Perry's idea:
-Assets + $300
-Computer + $300 <- current value of asset
-Cost + $1500 <- "asset cost" account
-Depreciation - $1200 <- "accumulated depreciation" account
-Expenses + $1200
-Depreciation + $1200 <- "depreciation expense" accountIt is one extra account you have to make (ugh), but it gives a total value to the asset.
PS: I'm still not sure why this is much different than my original proposal... I guess it is some accounting thing to separate everything into separate account.
-- -**-*-*---*-*---*-*---*-----*-*-----*---*-*---*-----*-----*-*-----*--- Jon Lapham <[EMAIL PROTECTED]> Rio de Janeiro, Brasil Work: Extracta Moléculas Naturais SA http://www.extracta.com.br/ Web: http://www.jandr.org/ ***-*--*----*-------*------------*--------------------*---------------
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