The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/how-to-account-for-home-purchase-30680171.aspx

Subject:  How to account for home purchase Date:  5/12/2013  3:24 PM
Author:  wrjohnston91283 Number:  307022 of 308643

Hello:

I use Moneydance to track my finances (its like Quicken or Microsoft Money). I'm wondering how to account for the deposit check for a home I am purchasing. I could create an asset account and simply have the deposit check be a transfer from my checking to that asset, but I'd rather not include the home in my list of assets, since its not liquid and the value would get stale after a while. What do other people do? Right now I'm putting into my 'major home improvements' expense account, which was used for things like a bathroom remodel, or new washer/dryer.

Thanks
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us