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On Sun, Feb 18, 2018 at 12:53 AM, John Ralls <jra...@ceridwen.us> wrote: > Ron, > > You made the right choice. Barring a price-to-market accounting > requirement that never applies to individuals, the book value is what you > actually paid. When you get around to selling you’ll get taxed on the > difference between the net selling price and that purchase price. > > If you want to see the “funny money” of market value you can create a > “house” security and make Assets:House contain one of them, purchased at > the price on the contract. Then you can get updated market price estimates > and put them in the pricedb. The supposed market value will then show up on > the Accounts page and in various reports. > > Regards, > John Ralls > > > On Feb 17, 2018, at 9:01 AM, Ronal B Morse <r...@morsehouse.com> wrote: > > > > 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 <tonyvan...@gmail.com> > 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 > >>> > >>> > >>> > >>> --- > >>> This email has been checked for viruses by Avast antivirus software. > >>> https://www.avast.com/antivirus > >>> _______________________________________________ > >>> gnucash-user mailing list > >>> gnucash-user@gnucash.org > >>> 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. > >>> > >>> > > > > _______________________________________________ > > gnucash-user mailing list > > gnucash-user@gnucash.org > > 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. > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. > -- *Tony Vanson* *The older I get,* *the better I was* _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
