How to record a used vehicle purchased
how do i track expenses incurred for a used vehicle
how do i track expenses incurred for a used vehicle
you buy a car, you first create a fixed asset account car, with a sub account accumulated depreciation car
write the check and use the car fixed asset account as the expense for the check
IF, if you have repairs to the car at the time of purchase to get it running, then you post those to the fixed asset account car too
after the car is in use, expenses are just that, auto expense, repair expense, fuel expense, etc
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