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January 2019
January 2019
Solved! Go to Solution.
January 2019
January 2019
January 2019
January 2019
Hi @SMM
I would recommend speaking to an accountant in regards to the transactions that you have recorded. The accounts, amounts and tax codes involved in those transactions should be reviewed.
January 2019
January 2019
Welcome to the MYOB Community Forum, I hope you find plenty of useful information.
Have a read of the attached Bank Loan and Chattel Mortgage document.
It talks about how to set up a Bank Loan for a motor vehicle and record the Interest and the payments.
Yes it is for a motor vehicle, but the principle is the same for all loans and a loan for funding insurance is treated the same way.
Do a Journal for the original purchase and include everthing in this journal.
Then do Spend Money for the payment recording the Interest as a positive and a negative - this effectively moves the interest from the Liability to the Other Expense account.
Hope this helps.
February 2019
February 2019