ContributionsMost RecentMost LikesSolutionsRe: Purchase of property Thank youEarl_HD All numbers balance now. Regards, Song Re: Purchase of property HiPrincess_R Thanks for your reply toacplus21. I have the same question. I find that using Recieve Money and Spend Money is easier for me to record a purchase of property. I am confused about using Recieve Money to record deposit made on signing contract (10% of the contract price), and again on settlement (anothe 10%). I have created - Asset account for the purchase, contract price; and asset accounts for stamp duty, legal etc Liability account for loan advanced by lender Expense account for interest Which account (asset, liability, expense or equity) to go for deposits made? Receive Money from which account to which account? Shall I put all entries in Spend Money against the settlement statement? Thank you in advance.