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January 5, 2021
Question

I sold my vehicle to a car dealership and put a down payment on a lease for a new vehicle. How do I record the taxes in quickbooks?

  • January 5, 2021
  • 1 reply
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1 reply

January 6, 2021

Hello colindaleconsult,

 

Welcome to the QuickBooks Community! I know that selling and purchasing business assets such as a car are not like your typical business transactions. I can help point you in the right direction. 

 

For a transaction such as this, I recommend reaching out to an accountant for clarification regarding how to record it. You can invite your accountant to view your QuickBooks Online company via the My Accountant tab in the left hand menu. If you're not currently working with an accountant, you can use the Find a pro to help option to search for a QuickBooks-certified ProAdvisor within your area. They can then determine the best way to post this entry for your business situation. 

 

Let me know if you have any other questions!