Hi, I have put an order in for a new vehicle and paid a cash deposit. I wont take possession of the vehicle until next financial year. The balance will be financed and this will be organised closer to finalisation of the vehicle order once all modifications have been decided. How should I record this?
Hi cjr1
Thanks for your post. As we're not accountants we're not permitted to advise on the accounts and tax codes for recording that purchase. You will need to speak to your accountant to ensure it is reported correctly.
Once you know what you need to record we'll be happy to help with how to do that in your software.
Please let me know if you need further help.
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