Now that I'm going back through my transactions, here's how I recorded our
car purchase in 2013:
08/31 * Dealer
Assets:Car $10,500.00
Assets:Checking
08/31 * Car Purchase
Liabilities:Loans:Car $-16,502.96
Assets:Car
Today I would record it like this:
08/31 * Car Purchase
Assets:Car $27,002,96
Liabilities:Loans:Car $-16,502.96
Assets:Checking $-10,500.00
Both amounts went toward the car asset. I don't track depreciation on any
kind of rigorous schedule, but occasionally I'll look up the Kelly Blue
Book value and do this:
06/12 * Car Depreciation
Assets:Car =$10,000.00
Expenses:Depreciation
On Tue, Jul 3, 2018 at 1:46 PM, Shane <[email protected]> wrote:
> Thanks, Peter.
>
> Do you track your car as an asset or an expense? If an asset, do you track
> depreciation?
>
> On Tuesday, July 3, 2018 at 10:15:57 AM UTC-7, Peter Keen wrote:
>>
>> I track almost exactly like your example, except that the liability is
>> only the amount I actually financed. The down payment gets paid to the
>> dealer and counts as "Expense:Car" or something like that. I use
>> Expenses:Interest:Car for the interest.
>>
>> On Tue, Jul 3, 2018 at 12:46 PM, Shane <[email protected]> wrote:
>>
>>> I just bought a new vehicle and I'm not quite sure how I should go about
>>> structuring accounts and transactions to give me the most accurate
>>> reporting.
>>>
>>> 1. Should the car's value be an asset? How would I handle
>>> depreciation?
>>> 2. If the car is an asset, should I convert it to a commodity to
>>> track depreciation?
>>> 3. Should my down payment pay off the new liability account I
>>> created?
>>> 4. What account should interest be credited/debited to?
>>>
>>> Here is what I was thinking:
>>>
>>> // should the new car be an asset? would it be better to convert it to a
>>> commodity?
>>> 2018-07-02=2018-07-02 * dealer
>>> ; note: new car
>>> ass:car 20,000.00 USD
>>> lia:debt:car -20,000.00 USD
>>>
>>> // is it correct that my down payment should pay off the liability?
>>> 2018-07-02=2018-07-02 * dealer
>>> ; note: down payment
>>> lia:debt:car 4,000.00 USD
>>> ass:checking
>>>
>>> // where should interest go?
>>> 2018-08-01=2018-08-01 * bank
>>> ; note: car payment
>>> lia:debt:car 1,000.00 USD
>>> exp:interest:car? 150.00 USD
>>> ass:checking
>>>
>>> I would greatly appreciate some examples of how you tracked your new
>>> vehicle.
>>>
>>> --
>>>
>>> ---
>>> You received this message because you are subscribed to the Google
>>> Groups "Ledger" group.
>>> To unsubscribe from this group and stop receiving emails from it, send
>>> an email to [email protected].
>>> For more options, visit https://groups.google.com/d/optout.
>>>
>>
>> --
>
> ---
> You received this message because you are subscribed to the Google Groups
> "Ledger" group.
> To unsubscribe from this group and stop receiving emails from it, send an
> email to [email protected].
> For more options, visit https://groups.google.com/d/optout.
>
--
---
You received this message because you are subscribed to the Google Groups
"Ledger" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to [email protected].
For more options, visit https://groups.google.com/d/optout.
