📅 2024-01-05 — Session: Developed Double-Entry Bookkeeping System for Assets and Loans
🕒 21:10–23:00
🏷️ Labels: Double-Entry Bookkeeping, Assets, Family Loans, Depreciation, Accounting
📂 Project: Accounting
⭐ Priority: MEDIUM
Session Goal
The goal of this session was to develop a comprehensive double-entry bookkeeping system focusing on assets and family loans, including multi-currency transactions.
Key Activities
- Initial Planning: Outlined the steps to establish a double-entry bookkeeping system for vehicles and family loans.
- Accounting Scheme: Detailed the accounting methods for vehicles as assets and family loans.
- General Ledger Setup: Structured a General Ledger for monthly tracking of vehicle-related and loan transactions.
- Depreciation Insight: Reflected on vehicle depreciation rates and market valuation, particularly for Peugeot models.
- Debt Management Plan: Created a structured repayment plan for managing Alejandro’s debt.
Achievements
- Successfully outlined a double-entry bookkeeping system and a general ledger structure.
- Developed a clear understanding of vehicle depreciation and market valuation.
- Established a repayment plan for family debts.
Pending Tasks
- Implement the outlined bookkeeping system in practice.
- Validate and test the structured repayment plan with real data.