[Question] Adding vehicle purchases to Pastel

[Jacky]

Good Afternoon,

How would I add a new vehicle purchased through vehicle finance onto pastel? I am not sure where to allocate opening balances and if I should use a long term liability account.

Many thanks

[Mike C]

Hi Jacky - each of our vehicles fall under sub accounts of 5600/000 Instalment Sale Creditors (Balance Sheet B30 - Other long term liabilities)

[dellatjie]

Go to PROCESS -> JOURNALS -> GENERAL JOURNAL

Your first account should be Motor vehicles at cost, your contra account should be the 5600/000 account. If you are registered for VAT, you need to claim VAT on the vehicle, should it not be a motor vehicle as defined in the VAT Act.