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#2
09-13-2006, 03:51 AM
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 Re: Repair and Upgrade at home I'm not sure I follow your intentions. But the short answer is probably no. An Asset account it like, say, a savings account. It just has a beginning balance, transactions--in this case typically Transfers in to reflect improvements and value adjustments to reflect the market valuation of the property, and an ending balance. You don't categorize it. It just is. "Marcelo Rayol" <rayol[at]uol.com.br> wrote in message news:OMbc1ut1GHA.4116[at]TK2MSFTNGP02.phx.gbl... - quote - > Thanks Dick, we are talking about 2nd paragraph. > Then, is there any way to categorize such money inside asset account? > "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in > message news:e1eiOgh1GHA.1588[at]TK2MSFTNGP02.phx.gbl... > > OTOH, if you think some of this will ADD to the value of your property > > roughly what it subtracts from the value of your wallet, generally the > > "best practices" way to treat that is to transfer it to an Asset account > > (for the house as an asset) rather than to expense it. Note that Transfer > > is the "Special Category" here and precludes calling it something like > > Housing:Maintenance. Again, liberal notes in memo fields can help you > > keep track and sort all this out in the future. |
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#1
09-13-2006, 02:24 AM
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| Re: Repair and Upgrade at home Thanks Dick, we are talking about 2nd paragraph. Then, is there any way to categorize such money inside asset account? Marcelo "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in message news:e1eiOgh1GHA.1588[at]TK2MSFTNGP02.phx.gbl... - quote - > Typically, you want to categorize Expenses--money that you consider gone > forever with a corresponding reduction in your net worth. This fits things > like buying gasoline for the car or electricity for the house. Home repair > probably falls in this category and you can call it whatever works for > you. I use Housing:Maintenance and liberal notes in memo fields. > OTOH, if you think some of this will ADD to the value of your property > roughly what it subtracts from the value of your wallet, generally the > "best practices" way to treat that is to transfer it to an Asset account > (for the house as an asset) rather than to expense it. Note that Transfer > is the "Special Category" here and precludes calling it something like > Housing:Maintenance. Again, liberal notes in memo fields can help you keep > track and sort all this out in the future. > "Marcelo Rayol" <rayol[at]uol.com.br> wrote in message > news:uNJdIGh1GHA.1268[at]TK2MSFTNGP02.phx.gbl... > > Does anyone know how to control a budget investment (or expense) in a > > home repair? > > > Recently I have decided to upgrade my house (+1 bedroom) and fix some old > > problems, but I don't know where I should register this in Money. Maybe > > in Assets, but how to categorize such expenses as painter, engineer, etc. > > > Please help me! |
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09-12-2006, 03:03 AM
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| Re: Repair and Upgrade at home Typically, you want to categorize Expenses--money that you consider gone forever with a corresponding reduction in your net worth. This fits things like buying gasoline for the car or electricity for the house. Home repair probably falls in this category and you can call it whatever works for you. I use Housing:Maintenance and liberal notes in memo fields. OTOH, if you think some of this will ADD to the value of your property roughly what it subtracts from the value of your wallet, generally the "best practices" way to treat that is to transfer it to an Asset account (for the house as an asset) rather than to expense it. Note that Transfer is the "Special Category" here and precludes calling it something like Housing:Maintenance. Again, liberal notes in memo fields can help you keep track and sort all this out in the future. "Marcelo Rayol" <rayol[at]uol.com.br> wrote in message news:uNJdIGh1GHA.1268[at]TK2MSFTNGP02.phx.gbl... - quote - > Does anyone know how to control a budget investment (or expense) in a home > repair? > Recently I have decided to upgrade my house (+1 bedroom) and fix some old > problems, but I don't know where I should register this in Money. Maybe in > Assets, but how to categorize such expenses as painter, engineer, etc. > Please help me! |
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#-1
09-12-2006, 02:17 AM
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| Repair and Upgrade at home Dear All, Does anyone know how to control a budget investment (or expense) in a home repair? Recently I have decided to upgrade my house (+1 bedroom) and fix some old problems, but I don't know where I should register this in Money. Maybe in Assets, but how to categorize such expenses as painter, engineer, etc. Please help me! Many thanks. Marcelo |
| Tags |
| home, repair, upgrade |
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