If you purchased your house, and want to record the full costs, I'd use a "Settlement Account" (like a suspense account). My real-life settlement account has ~20 transactions to various e.g. utilities prorata, title insurance, real estate fees etc.
1-Jan: Reservation Assets:Bank -50,000 Assets:House Settlement +50,000 15-Jan: Downpayment Assets:Bank -150,000 Assets:House Settlement +150,000 15-Jan: Monies from Lender Assets:House Settlement +300,000 Liability:House Loan -300,000 15-Jan: House Purchase Assets:House Settlement -500,000 Assets:Fixed:House +500,000 In regard to your other question, if you start your books on 31.12.2023 and your original apartment was purchased for 100k in 2018, and on 31.12.2023 valued at 130k, I'd record it as follows: 1-Jan-2018 Original purchase Asset:Apartment +$100,000 Equity:Opening -$100,000 31-Dec-2023 Valuation Asset:Apartment +30,000 Equity:Unrealized Gains -30,000 On Sun, 29 Sept 2024 at 05:08, Boniforti Flavio <bonifort...@gmail.com> wrote: > Hi. > > I am sure somebody can help me validate my understanding on how to > add/enter my real estate and my mortgage correctly into GC. > > I would enter it as follows (let's assume the real estate total cost is > 500k): > > Assets:Fixed Assets:Real Estate - increase 300k > Liabilities:Loans:Mortgage Loans: - increase 300k > Assets:Fixed Assets:Real Estate - increase 150k (downpayment) > Assets:Current Assets:Checking Account - decrease 150k (downpayment) > Assets:Fixed Assets:Real Estate - increase 50k (reservation) > Assets:Current Assets:Checking Account - decrease 50k (reservation) > > If the above is correct, there's another question. I started using GnuCash > this year and put the opening balances of all my accounts dating back to > 31.12.2023, but I bought my apartment back in 2018. If I look at it now, I > would have a huge negative balance on my checking account (because the > money was spent in 2018 but I have the opening balance from 31.12.2023). > Should I just add another "opening balance" in my checking account which > equals both the downpayment and the reservation fee? > > Thanks, > F. > > https://www.instagram.com/boniforti_music > https://soundcloud.com/boniforti_music > https://bonny-j.bandcamp.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 > ----- > 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 ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
