new and old vehicle
QuickBooks Australiawe have just brought a new vehicle and traded in the old vihicle how do I enter this into quickbooks?
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Rustler
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journal entries,
clear the accumulated depreciation against the old car asset value to get book value
debit accumulated depreciaiton car
credit car asset
create the new car asset account and accumulated depreciation sub account
journal
debit new car for book value
credit old car for book value
If you wrote a check, on the expense tab select the new car asset account
if you took out a loan, create the new loan long term liability account
journal entry
debit new car asset account
credit new car loan account
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My QB tips Blog >> http://onsale-apparel.com/Rust...
When the majority, who cannot think for themselves, overwhelm the minority who can, you get ... convention.
