Capital Purchases and Finance in AccountRight
HOW TO RECORD CAPITAL PURCHASES AND FINANCE IN ACCOUNTRIGHT There are many finance options available to purchase capital equipment. Commonly used in Australia are: chattel mortgages: ownersh...
Forum Discussion
I am trying to comprehend this but in relation to MYOB Essentials. I have looked up Essential Chattel Mortgage but it only gives me details to record a Hire Purchase and this looked different to the advice posted here. It didnt use an unexpired Interest Account.
The details of the purchase are:
Amount financed: $81,000
Cost: $89,100
Minus deposit: $8,100
No balloon payment
Instalments made yearly (for 5 years) $18,983.07
Total Interest: $13,915.35
The establishment fee applies at settlement and is not financed: $401.80
I am trying to relate the advice above to Essentials so can anyone provide assistance or point me in the correct direction.
Thanks
Jo
