<title>Update an asset or liability account</title>
<category>accounts</category>
<klink type="prcdr">How do I update an asset or liability account?</klink>
</index>
<content>
<p>Follow these instructions to increase or decrease the amount of an asset or liability account. A liability account in Money is a non-interest bearing loan, such as a short-term personal loan.</p>
<ol>
<li>On the <emph>Accounts & Bills</emph> menu, click <emph>Account List</emph>.</li>
<li>Click the appropriate account.</li>
<li>In the upper right of the page, make sure the <emph>Show Transaction Forms</emph> check box is selected.</li>
<li>Click one of the following tabs:</li>
</ol>
<ul>
<li><emph>Decrease.</emph> If the asset value or liability amount has gone down, enter the amount of the decrease. You can leave the <emph>Pay to</emph> box blank. Select a category, such as Depreciation.</li>
<li><emph>Increase.</emph> If the asset value or liability amount has increased, enter the amount of the increase and select a category. For example, if you bought an antique for $1,000 and it's now appraised at $1,200, enter $200, and select the category Capital Appreciation. </li>
<li><emph>Transfer.</emph> If you make purchases that add to the value of your asset, record it as a transfer. For example, if you added hardwood floors to your home, enter the name of your checking account in the <emph>From</emph> box, your house account in the <emph>To</emph> box, and Joe's Hardwood Floors in the <emph>Pay to</emph> box. When you enter the transaction as a transfer in your asset account, it's automatically recorded in the register of the account you use to pay for the transfer.</li>
</ul>
<p variant="impt">Don't change the amount of the original transaction. You might need a record of it for tax purposes.</p>
