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downtownryan
August 17, 2020
Question

How to Enter a Computer that is Financed through Klarna

  • August 17, 2020
  • 1 reply
  • 0 views

Purchased a Computer from Microsoft.

The Computer was financed through Klarna. Full price financed, terms of 24 months, no interest if paid off by then. Paid off in 12-mos.

The purchase price $2,900. The statement shows credit limit at amount being financed, where it looks like a credit account that is all the sudden maxed out. But then I have also seen where, as this is an asset, that it is setup as a short term liability and then wrote down.

 

Just finding some have used liability and some have used credit to possibly take this. Can anyone give me a good direction to record this transaction? Thank you so much.

1 reply

J
JamesM
August 17, 2020

Hi downtownryan,

 

Making sure you're recording your transactions the right way is a good exercise for preventing errors in your books. QuickBooks is a great program for managing your transactions and I'd be glad to steer you on the right direction. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here.

 

I'll also leave this question here so other accounting professional members can chime in. Let me know if you have other questions. I'm here to help.

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