How to tag property appreciation

Accounting
1

Hello,

I need to add freehold property appreciation to my balance sheet. I have looked in the available accounts, but am not sure how to tag this or set up an account that will show in the right part of the balance sheet. Can you help?

2

You can create a Revaluation Reserve a/c in Capital and Reserves for credit entry

3

Thanks, but I can’t understand how to put money in to it.The journal says that I must take money from somewhere else if I put money in to an account?

4

Journal Entry would be

Dr Property a/c
Cr Revaluation Surplus a/c

1 Like
5

OK. Great! Thanks for your help.