Hi there, @cthbodaux432.
I'm here to help you record your land sale.
You should have the property listed as a fixed asset, with an associated accumulated accumulated depreciation account.
Here's how:
- Let's create a Fixed Asset Account for the land, by going to the Accountant menu.
- Click Chart of Accounts and hit New.
- Select Fixed Assets.
- Enter the name and description for the account
- Choose the Detail Type.
Next, create an equity account named unrealized gain/loss.
For the best advice on how you can record it, I recommend consulting your accountant. If you don't have one, no worries you can look for a Pro-Advisor near your area using our Find an Accountant tool.
Feel free to get back to me if you need further assistance in recording your sales. Have a great day.
