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October 3, 2024
Question

What are the accounting entries to increase the value of property? Debit the assets + credit? Hope the entries are both balance sheet entries which don't effect income!

  • October 3, 2024
  • 1 reply
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My clients properties have been revalued + the values have increased.  If I debit the property assets account, which account do I credit?  Hopefully a Balance sheet account.

1 reply

October 3, 2024

Hi waddison, thanks for posting on the Community. We're unable to advise on the specific accounts to debit and credit. For best advice, we recommend contacting your bookkeeper or accountant.

 

If you don't already have an accountant, you can find a QuickBooks certified advisor near you on our online directory. Thanks again for reaching out - we'll be here if you have any further questions.