That's what I did. I also had to set up a corresponding liability
account for the mortgage, but that's a separate issue.
I wasn't sure if I should use the purchase price or the appraised value
as the value of the asset, but since I do everything else on a cash
basis, I decided to use the cash price. That does have some impact on
net worth calculations, but I'll live with that.
RBM
On 02/17/2018 07:56 AM, Robert Heller wrote:
At Sat, 17 Feb 2018 21:31:54 +0700 Tony Vanson <[email protected]> wrote:
Hi all,
Hopefully someone can point me in the right direction on how to account for a
house purchase in GNUCash.
I have contracted to buy a house and have paid a 10% deposit from my bank
account, with the remainder becoming due within 2 months. I understand that the
deposit amount is a debit against my bank account but I have no idea what the
corresponding double-entry should be. I assume when this purchase is completed
it will be an asset?
Regards
How about Assets:House ?
Sent from Mail for Windows 10
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