Chattel Mortgage Finance & purchase setup
Hi, I've been using MYOB since version 8 but have not until now had to setup a capital purchase with chattel mortgage finance. I've followed the advice from Ron Boulton (https://community.myob.com/d...
Forum Discussion
Hi Eljay1959 , My preference would be for you to allocate the entire regular payments (both principal and interest) to the loan account, which after the set-up entries includes all future interest. Then have your accountant work out and adjust for the new amount of unexpired interest at the end of each year. This will be simpler for both of you.
