Chart of Accounts for Gains/Losses: Accounting w Xero

[William F.]

I sold a house, I made $40k after all expenses and whatnot. Not bad for a 3-week flip!! I'm starting to REALLY track things with respect to gains on the sale of Fixed Assets. I use Xero (thanks to BP podcast!) - when I allocate capital gains, gains and losses from sales, which accounts should those go to?? This seems easy, but the gains vs capital gains is what gets me. I have Sales for them all right now, but that seems wrong. Help.