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Indy Sohi
August 15, 2023
Question

Company Asset purchased by me

  • August 15, 2023
  • 1 reply
  • 0 views

Hi

i personally purchased a vehicle for my new company.

i need to show the purchase in QBO as a loan, i also need to show the purchase for vat records and also the asset so that in time it can be depreciated.

Can anyone explain how best to do so?

1 reply

A
Ashleigh1
August 15, 2023

Hello Indy Sohi, thanks for posting on the Community page,  so you can set up a loan in Quickbooks, this link has all the steps you need. You can put the vehicle against  Tangible Assets/Vehicles here are the steps for you to follow.

 

Accounting>chart of accounts> new>account type- Tangible assets> Detail type- Vehicles> name - call it what you would like for example Vehicles.> Save and close then when creating an expense for example you can select that category to put it against. 

 

However if you are not sure still then we would advise you speak to a trained and qualified accountant who will be able to assist you more with it as we are just technical support here not trained accountants. 

 

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