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ronatbas's avatar
ronatbas
Ultimate Cover User
10 years ago

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...
David65's avatar
David65
Experienced User
3 years ago

Hi - We purchased a vehicle for $43,900 - Finance adds $10485.03 in interest over 60 months with a balloon of $13,169.83.  Repayment is $686.92 pm.

 

Total Loan is $54,385.03

 

I have recorded purchase of vehicle and payment made by loan account however where do I record the $10485.03 in order to balance the GJ entry?

 

Thanks

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