house purchase in Personal Plus

  • 1
  • Question
  • Updated 3 months ago
Hi,

We us Reckon Personal Plus.

We are about to buy a house and I am not sure how to set it up to reflect:

The Asset
The Liability
Amount we have contributed to the purchase

Any assistance greatly appreciated.
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Scott

  • 70 Points

Posted 4 months ago

  • 1
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Kevin

  • 246 Points 100 badge 2x thumb
Hi Scott,
The house is an asset, the mortgage is a liability. An account for each.

Cheers
Kevin.
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David Hunt

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Hi Scott - Go to Menu Property & Debt, Property & Debt Accounts, Add Account. Then follow the wizard for add an Account - "House" is selected by default and following this through sets both the Asset account and the mortage. Your deposit is a simple transfer the amount you paid out (less costs) from your bank to the Asset account. My asset account is called Residential Property and I use class or tag to distinguish each different property that I have moved around in over the years.
(Edited)