Telperien
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Re: Capital Purchases and Finance in AccountRight
Hello Ronatbas, Thanks so much for your assistance with my recent query, I have worked my way through most of the steps (very slowly...). I have a couple of (probably rather dumb) questions still outstanding: 1. The car we have purchased has a balloon; I have set up the loan account, the unexpired interest account, and the balloon account. In your directions, you have said to pay for the car from the loan account, which I have done. You also then say to "Using Spend Money, the balloon is paid to the 2-xx10 account." I assume this is at the end , when the balloon is the final payment paid ? 2. We put down a deposit of $3000, which was subsequently refunded to us by the dealership. I am not clear about how to record this in and out ? Thank you again for your help ! And best wishes for the New Year!61KViews0likes0Comments