Perfect. Thank you. On Tuesday, July 3, 2018 at 10:58:20 AM UTC-7, Peter Keen wrote: > > 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] <javascript:>> > 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] <javascript:>. >> For more options, visit https://groups.google.com/d/optout. >> > >
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