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skiconnectme
March 4, 2020
Question

How to record the purchase of a fixed asset (bus) with a loan? The loan was deposited to our daily abnk account, partially for the bus and partially for other fees

  • March 4, 2020
  • 1 reply
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Hi, How can I record a purchase of a fixed asset (bus) with a loan? The loan was deposited to our daily abnk account from a financial company, part of the loan was used for purchase the bus and the rest of the loan was used to pay for bus registrations and other fees. The loan was deposited to our bank account, how can I record this & other transactions? Thank you

1 reply

christine_w
christine_w
March 4, 2020

Hi skiconnectme-

 

Hmm, was the loan created manually in QuickBooks or was is brought in via the bank feed? 

 

We could simply match the expense for the fixed asset to a portion of the loan if it's come through the bank feed. The loan will not be fully added to QuickBooks in it's entirety until all of the amounts are accounted for. 

 

Let me know, and please, ask any questions you might have of my response. 

 

-Christine

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