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November 21, 2022
Question

How do i record a property purchase of a completion statement, including the step of moneys at the accountant?

  • November 21, 2022
  • 1 reply
  • 0 views
Moneys from company and from lender (mortgage) are transferred to solicitors, most of which are then transferred to the vendor and some kept by solicitors for their charges,and disbursements.
Presumably all this is recorded with a journal entry, but how do i categorize/classify the stage where the money is at the solicitor?

1 reply

November 21, 2022

Hello Lee Gold, 

 

Welcome to the Community page, 

 

We would advise that you consult with a trained and qualified accountant on the best way to record this and when and what to classify it as, they will be able to tell you as we are just technical support here.