huong2411
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Re: Capital Purchases and Finance in AccountRight
Hello all, I have read thru most of the thread but I can't determine which entries to setup my new car purchased in August 2022 in MYOB. Here's the details of the car purchase: Toyota Hiace 2022 GDH300R Van 5dr, LWB SA 6sp 2.8DT $40,854.64 Commercial Heavy Duty Roof Racks - 3 bar set $772.34 Technician Step (Step only) $882.30 Customer Fee $590.91 Total Price (Before GST) $43,100.19 GST Payable $4,310.02 CTP (See CTP Policy for GST) $746.79 Plate Issue $115.00 Registration $824.00 Stamp Duty $1,404.00 Total Sales $50,500.00 Total GST $4,310.02 The car is under finance with Wespac with the contract as below: Loan amount: $50,950 Total interest charges payable: $9311.60 Repayment amount: 1004.36 Number of repayments: 60 Payment period: Monthly Establishment fee: $450 Could someone help me create associated accounts in chart of account so that I can create correct entries in General Journal in MYOB and I could claim GST (GST Payable $4,310.02) on my new car for last quarter BAS and on going repayment recorded by matching in the monthly direct debit bank feed transaction. Much appreciated your detailed response Thanks, Harry9.4KViews0likes0Comments