On 08/05/2018 07:06 AM, BOSCH John(J) - BRUCE POWER wrote: > Hi: I'm having trouble setting up the accounts to reflect the scenario below: > > Fixed asset = 2015 Pickup truck purchased in June 2015 for $62000 > Liability = Current outstanding loan amount = $38000 > ?? = Current market value of the truck = Approx $45000 > > Since I'm just starting to use GNUcash I input the values thus: > > Fixed asset = 2015 truck: $45000 > Liability = Truck Loan: $38000 > > What happens is that I get an entry in the "imbalance" account of $7000 which > makes sense because the asset value doesn't match the loan amount. > > Question: How do I structure the accounts above to reflect that I have $7000 > worth of equity in the vehicle without it showing up in the imbalance account? > > Thanks in advance > > John
You need an Equity Account to which the $7000 would be applied to make the entry balance. Remember, Assets = Liabilities + Equity. -- Stephen M Butler, PMP, PSM [email protected] [email protected] 253-350-0166 ------------------------------------------- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
