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<html><head><meta http-equiv="Content-Type" content="text/html; charset=ISO-8859-1"><title>9.3. Account Setup</title><meta name="generator" content="DocBook XSL Stylesheets V1.45"><link rel="home" href="index.html" title="GnuCash Tutorial and Concepts Guide"><link rel="up" href="chapter9.html" title="Chapter 9. Capital Gains"><link rel="previous" href="capgain_value1.html" title="9.2. Estimating Valuation"><link rel="next" href="capgain_example1.html" title="9.4. Example"></head><body bgcolor="white" text="black" link="#0000FF" vlink="#840084" alink="#0000FF"><div xmlns="http://www.w3.org/TR/xhtml1/transitional" class="navheader"><table width="100%" summary="Navigation header"><tr><th colspan="3" align="center">9.3. Account Setup</th></tr><tr><td width="20%" align="left"><a accesskey="p" href="capgain_value1.html"><<<Prev</a></td><th width="60%" align="center">Chapter 9. Capital Gains</th><td width="20%" align="right"><a accesskey="n" href="capgain_example1.html">Next>>></a></td></tr></table><hr></hr></div><div class="sect1"><div class="titlepage"><div><h2 class="title" style="clear: both"><a name="capgain_accounts1"></a>9.3. Account Setup</h2></div></div><p>
As with most accounting practices, there are a number of different ways to setup capital gains accounts. We will present here a general method which should be flexible enough to handle most situations. The first account you will need is an <b>Asset Cost</b> account (GnuCash account type "asset"), which is simply a place where you record the original purchase of the asset. Usually this purchase is accomplished by a transaction from your bank account.
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In order to keep track of the appreciation of the asset, you will need three accounts. The first is an <b>Unrealized Gains</b> asset account in which to collect the sum of all of the appreciation amounts. The Unrealized Gains asset account is balanced by a <b>Unrealized Gains</b> income account, in which all periodic appreciation income is recorded. Finally, another income account is necessary, called a <b>Realized Gains</b> in which you record the actual capital gains upon selling the asset.
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Below is a generic account hierarchy for tracking the appreciation of 2 assets, ITEM1 and ITEM2. The "Assets:ITEM1:Cost" accounts are balanced by the "Assets:Bank" account, the "Assets:ITEM?:Unrealized Gains" accounts are balanced by the "Income:Unrealized Gains" account.
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-Assets<br>
-ITEM1<br>
-Cost<br>
-UnrealizedGain<br>
-ITEM2<br>
-Cost<br>
-UnrealizedGain<br>
-Bank<br>
-Income<br>
-UnrealizedGains<br>
-RealizedGains<br>
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