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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.
October 2012 - last edited March 2016 by Suja_P
You can try this method
<Edit: Updated Support Note link in the post with one on our new Support Note site.>
Thank you for your help. I now realise that I need further details from my bank for me to complete.
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.