[moneydance] question on car purchase...

[Robert Kesterson]

Mario Flores wrote:
> Hi,
> 
> I  recently purchased a car using a loan and a down payment. I set up  
> my loan account and put the money from the loan into "auto expense".  
> My down payment also went to my "auto expense". But now, I have a big  
> expense (auto purchase) in MD reports but don't have any place to  
> show the value of the car. Should I set an asset account? Should I  
> enter a transaction from the expense account to this asset? How would  
> you record it?

I would have set up an asset account for the car.  The downpayment and
the proceeds of the loan would have gone into the asset account (instead
of an expense).

--
  Robert Kesterson
  robertk at robertk.com