On 2021-02-21 15:22, gnu Gord wrote: > I'm unsure of the best way to record the adding/modifying of an asset. > Should the transaction go directly to an asset account or an expense > account then create an asset? Let me explain.
I started writing out a detailed reply, but David Cousens said it all well, and rather than just pile on I will say that I agree with what he said. I'll add one thing: if you find yourself asking "should I record a transaction to equity", the answer is almost certainly No. Changes in your net worth arise from income and expenses, so they should be recorded in the appropriate Income or Expense accounts. Buying an asset doesn't change your net worth, and therefore it is not income or expense; the same is true of paying a bill or paying principal on a loan. (The interest portion of a loan payment is an expense; the principal portion is just a debit to a liability account.) -- Stan Brown Tehachapi, CA, USA https://BrownMath.com https://OakRoadSystems.com _______________________________________________ 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.
