Hi all,
This is more of a double entry bookkeeping question rather than
something specific to GnuCash; but I'd appreciate any input on the
proper way to do this. I'm tracking the valuation changes of my
personal home based on notices that I get every 2 years from the County
Assessor. When I was using Quicken, I did this in a single account
(named MyHome). The opening balance of MyHome was my original purchase
price. And then every 2 years as I got updated valuation notices, I'd
record a transaction back into that same MyHome account (since Quicken
would let me do that) to adjust the MyHome account balance to make it
match the current value listed on the County Assessor's notice.
Now that I'm using GnuCash and having to do things properly with double
entry accounting, I was wondering how to go back and fix things. I know
I still want an Asset account for MyHome to track the valuation. But
for DE accounting, what should I be using for that corresponding second
account to balance things out as the valuation changes?
Tom
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