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ronatbas's avatar
ronatbas
Ultimate Cover User
10 years ago

Capital Purchases and Finance in AccountRight

HOW TO RECORD CAPITAL PURCHASES AND FINANCE IN ACCOUNTRIGHT   There are many finance options available to purchase capital equipment. Commonly used in Australia are:   chattel mortgages: ownersh...
Timtam's avatar
Timtam
Cover User
10 years ago

Hi

 

I am new and have been asked by the accountant to enter a general journal entry for the purchase and sale of a mv.

The client purchased the mv in 2000 privately no gst.

He sold it in 2012 for 2000 no gst.

 

I have set up an at cost MV account 1 - 2211.

 

Also what date should it be recorded as i am doing paperwork from 2011 onwards.

 

All help appreciated.

 

Cheers Tam

 

 

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