Buying an asset
Am new to MoneyDance, and finding it difficult. If I buy an asset for £1,600, I don't want to record this as an expense. But what are the steps I must take to enter the transaction in my credit card account. It can't be difficult!
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1 Posted by Mark on 08 May, 2026 09:03 AM
No this is not an INVESTMENT it is an ASSET
2 Posted by dwg on 08 May, 2026 09:53 AM
You are not recording it as an expense as such, to get the value in the asset account the funds have to come from somewhere. You could just give the account an initial balance in the Account information screen but then there would be nothing in the register recording it, which is not all that useful.
If you are buying something now then the funds are likely to have to come from a bank account so that would be the source.
If you are recording a past purchase, then you could have an expense category specific created to be used for such things on initial set up and use this for the source of the funds. You exclude this expense category from all reports.
3 Posted by dw-uk on 08 May, 2026 10:04 AM
Just to check something from first principles: Have you created an Asset Account to represent the physical item?
From the main menu select Account | New Account | Asset. Then set it up with a meaningful and unique name.
Then, when you make your credit card purchase, select the Asset Account just created as the 'Category' for the purchase
If you subsequently add to the value of the Asset (for example you upgrade the wheels on a car) you would also assign that purchase to the Asset, whereas day to day running cost would be assigned to an Expense (such as Fuel or Servicing). Similarly, you could create and use Categories such as Capital Depreciation and Appreciation to adjust the Asset value over time.