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Entering a vehicle loan and it's repayments

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Contributing User goodsales
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goodsales
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Entering a vehicle loan and it's repayments

Hi

 

I need to enter in MYOB a loan that we have taken out for a vehicle the net advance is $36000.15).  And I then need to enter the monthly repayments of $854.05. 

 

I've seen a few other posts/answers related to this, but they are too complex for me to understand as a fairly new user. 

 

Could somebody please explain, as simply as possible, how I should go about doing this?

 

Thank you in advance for any help.

 

Lucy

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Trusted User MYOBMalaysia
48 Posts
Trusted User
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MYOBMalaysia
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Re: Entering a vehicle loan and it's repayments

Hi There

 

You can try this method

 

http://help.myob.com/wiki/x/jIKO

 

<Edit: Updated Support Note link in the post with one on our new Support Note site.>

 

Justin Leng
justin@rightsoft.com.my
RightSoft Business Solutions
MYOB Professional Partner in Malaysia
Contributing User goodsales
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Contributing User
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goodsales
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Re: Entering a vehicle loan and it's repayments

Thank you for your help.  I now realise that I need further details from my bank for me to complete.

AndreaK
4 Posts
Cover User
Australia
AndreaK
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Re: Entering a vehicle loan and it's repayments

I would set up a purchase for the car outlining all the costs making sure that the GST is correctly represented.

Then pay this purchase with the liability set up for this loan, eg ANZ car loan.  Then you will need to do a spend money for the interest amounts, you can do this yearly.  Then set up a spend money for the repayments and make it recurring and automatic so you don't have to think about it any more.

 

Good luck

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