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
Hi
If you have the amortization schedule you can reduce the unexpired interest.
When you record the repayment it should be recorded this way
eg repayment $2500 interest component $250
DR 2-XXXXLoan account 2500 N-T
CR 2-XXXX unexpired interest 250 N-T
DR 6-XXXX interest expense account 250 FRE
