Revaluing an Asset

nsjeremiah's Avatar

nsjeremiah

20 Jun, 2020 06:02 AM

I have an Asset account, and want to know how I revalue the account, so that I can get an accurate report on my net worth.

  1. 1 Posted by dwg on 20 Jun, 2020 06:45 AM

    dwg's Avatar

    I'm a fellow user.

    You could adopt the accounting approach, that would require the creation of an account or a category for Asset Revaluation and posting a transfer between the asset account and this to increase the value of the account (asset).

    If you use a category you can use the Income and expense report to show the increased value of the assets. If you use an account you need to exclude it from reports or perhaps mark as inactive.

    Another approach is to modify the initial value field, the change in value is a little more obscure with this approach.

  2. 2 Posted by Tom Smith on 20 Jun, 2020 12:40 PM

    Tom Smith's Avatar

    What works for me is to simply add an entry (increase or decrease) with a category of "Unrealized Gains). This gives me the ability to make descriptions and notes.
    eg. "Appraised Valuie 2020"

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