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
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
Hi Jacky - each of our vehicles fall under sub accounts of 5600/000 Instalment Sale Creditors (Balance Sheet B30 - Other long term liabilities)
No act of kindness, no matter how small, is ever wasted. - Aesop "The Lion and the Mouse"
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.
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