Q&A ▸ How can I update an asset value

[Maxprog Knowledge Base]

Yes. You can do that by adding transactions.

First, create an "Asset appreciation" account of type "Startup". "Asset appreciation" is an arbitrary name, choose whatever you prefer. Note that it is essential you set it as type "Startup".

Then:

- To increase your asset value, add a transaction from the "Asset appreciation" account to your asset account
- To decrease your asset value add a transaction from your asset account to the "Asset appreciation" account

No bank is involved here. You are just updating the asset account without modifying its original starting value.

Also, you can create reports or charts and see how your asset value evolves as time goes on.

#personalfinance #personalfinancesoftware #softwareforpersonalfinances #homefinance #budgetsoftware #householdbudget #budgetingsoftware #expensemangement #accountingsoftware

Continue reading...