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How can I update an asset value | Knowledge Base ▸ iCash

How can I update an asset value

Knowledge Base ▸ iCash

Compatible with MS Windows Compatible with MacOS

How can I update an asset value

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Question: If I have a house as an asset and the value of that house change, is it then possible to update the value of the asset and even get historical data of the house value change over time? With other words, I don't want to change the start value of the house, as this would prevent keeping track of historical value, right? And I don't want to make a transaction to the bank as no transaction is made, it is just a change of value.

All best,
David

Answer: 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.

Asset appreciation

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



Stan Busk Stan Busk
August 5, 2019





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iCash is a software intended to control your personal finance, keeping track of incomes, expenses, credits, debts and Banks transactions for you. As simple as creating the accounts you need and move money between them! You don't even need to know about accounting or even care about it! Your finances depends largely on good organization that lets you know where your money comes from and to where it goes.

iCash is an easy-to-use, full featured and multi-purpose Personal Finance Manager tool for macOS and Windows intended to help you control all kinds of money issues. iCash can serve several small accounting needs for either private users, or clubs, associations, self-employed, small businesses or simply to be used at home, making keeping track of incomes, expenses and Banks transactions a snap.

With a few clicks you can begin creating accounts and making transactions in minutes. iCash is versatil and user-friendly. For this reason it doesn't use the principle of double-entry bookkeeping making it much easier to be used by people with very little or no accounting knowledge at all.

Simply create accounts for all your expenses, incomes, Banks... and start moving money between them! iCash will then allow you to find out where all your money comes from and where it goes. All accounts are well organized according to user-defined categories and built-in types so reports can be tailored to include all records or only ones meeting specified criteria.

Cash also allows you to have as many money manager documents as necessary so you can control almost anything from Clubs, associations, home and so on at the same time.

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