Record Purchase Of A Vehicle

35 Results For Record Purchase Of A Vehicle

How to record New Car Purchase

Purchased a new car for the business back in June. I need to enter it in to MYOB but I'm not sure where. The car is over the LCT and I'm paying it off in monthly installments. There was also a trade in. I've tried putting it in as a general journal entry, but as you need to balance it out to record

Recording a vehicle purchase with finance - how to?

purchased a new truck for the business and the deal was done with a trade in of the old (financed) and purchase of new (also under finance). While I have created the asset account and long term liability I think I've made an error as the GST needs to be recorded for both the sale of old and purchase

Journal entry help re purchase of new vehicle with trade-in of old vehicle

Old vehicle is shown in motor vehicle asset account at cost $9,244 incl GST Old vehicle was traded-in for $5,400 incl GST New vehicle cost 9,900 incl GST to buy This was paid for from the trade-in of $5,400 plus $4,500 in cash How do I best record thes transactions (including the loss on the sale of…

Company purchasing a car

Hi everyone, I have an urgent issue for purchasing a car. First of all, my question is if I need an invoice to record such a transaction because I just have "Offer to Purchase" on hand now. Secondly, on the "Offer to Purchase", it says: Vehicle Price: $128,136.01 Business Registration Fee $685 Registered…

Vehicle Purchase - partially used for business - how to record as an asset and depreciate

…I record this to claim part of GST in current BAS and depreciate by 15% (small business rules apply) for this financial year? Purchase cost ex GST: $16340.27 GST: $ 1634.03 Reg Fee: 450.10 Stamp duty: 440.60 Drive Away including GST: 18865.00 Less trade in: $8000 (trade in car was private vehicle not…

Purchase of vehicle with trade-in under finance, pay out of finance and new finance

I have a client who has purchased a vehicle under finance. He traded in a vehicle that was also under finance. The dealer paid the finance out of the trade-in. The invoice reads as follows: Purchase $75,900.00 Less trade in $51,000.00 Less GST on trade in $5,100.00 Plus pay out on trade-in $51,228.59…

Record transaction of trading in old truck on new

…situation where I've been asked to assist with the recording of the exchange of an old truck for a new one, but it is beyond my scope. What about registration (including ctp), vehicle insurance and stamp duty? Not sure if stamp duty's separate from purchase. Issue I have is: Traded in truck - Cost $85,000…

Novice MYOB user needs helps showing purchase of Truck - URGENT

I have been using MYOB for a number of years purely as a sole trader just to record quotes, invoices for tax and monthly GST - so my knowledge is limited. Right I have purchased a truck for $50,000 - following breakdown cost 43,036.14 ex 4303.61 gst stamp 1659 n/t rego 293.15 n/t ctp 708.10 n/t I paid…

Motor Vehicle Lease

How and where do I record the purchase of a motor vehicle with a chattel mortgage. The vehicle is $85,000 and the amount of contract is $105,628.95 with a balloon payment of $53,125.79 with 4 yearly repayments of $13,125.79. And how do I claim this on my BAS? Thanks Jo

Accounting for Chattel Mortgage

Hi There, I need advise on how to record a cliets purchase of a car. I know that I have to set up a liability account and a vehicle asset account. I also will be claiming all the GST upfront and also wanted to claim the insurances upfront. The invoice shows the car cost as well as added extras, Rego…

Using the Easy Setup Assistant

…GST Code which is used to record and report your tax liability (S15 is the one that is the most commonly used). * Payment Information: The terms selected in this window need to reflect your customer terms as per your company's trading policies. Our support note Recording, tracking and depositing payments…

Search by categories