Thanks everyone. I think my question in simplest form was really "If I buy a replacement asset do I need transactions to put the value in the fixed asset account as well as an entry to account for the expense of buying it. My research finds just enter in Fixed Asset account, depreciation expense will account for expense over time. So I enter as credit card charge and use computer fixed asset account as expense account in the transaction. this puts value in fixed asset account and the charge on the credit card. Year end depreciation will account for expense of purchase. Hope I'm right!
