Forum Discussion
Hi @ronatabs
your article is amazing and save my life :-) I am doing hire purchase for construction company My boss bought CNC machine on hire purchase and your example help me very well . I want to know when you enter the purchase and use the tax code N-T but in above lines it was CAP
1-2910 CNC Bridgeport Mill CAP
1-2950 CNC Mill Accum. Depreciation N-T
kindly explain me which code should I use for Purchase ?
Another question is I just create the depreciation account as you suggest but I don't know how their accountant do the deprecation . Is it alright if I didn't touch the depreciation and at the end accountant handle as he want to do it. Because I am doing their backlog and as well as working for current financial year but I have not any idea about depreciation.
Also if you can explain me how 2-2105 Unexpired Interest on ABC Loan account will reconcile at the end?
Warm Regards
Sally