Forum Discussion
Hello all,
I have read thru most of the thread but I can't determine which entries to setup my new car purchased in August 2022 in MYOB.
Here's the details of the car purchase:
Toyota Hiace 2022 GDH300R Van 5dr, LWB SA 6sp 2.8DT $40,854.64
Commercial Heavy Duty Roof Racks - 3 bar set $772.34
Technician Step (Step only) $882.30
Customer Fee $590.91
Total Price (Before GST) $43,100.19
GST Payable $4,310.02
CTP (See CTP Policy for GST) $746.79
Plate Issue $115.00
Registration $824.00
Stamp Duty $1,404.00
Total Sales $50,500.00
Total GST $4,310.02
The car is under finance with Wespac with the contract as below:
Loan amount: $50,950
Total interest charges payable: $9311.60
Repayment amount: 1004.36
Number of repayments: 60
Payment period: Monthly
Establishment fee: $450
Could someone help me create associated accounts in chart of account so that I can create correct entries in General Journal in MYOB and I could claim GST (GST Payable $4,310.02) on my new car for last quarter BAS and on going repayment recorded by matching in the monthly direct debit bank feed transaction.
Much appreciated your detailed response
Thanks,
Harry