I have traded in my car which I was using for business and have bought a van. I traded in my car and paid extra on top for the van. I use simplified expenses. How do i account for this transaction?

Hi there, paulscott2502-ya.

Welcome back to QuickBooks Community. I'll share different information and steps to make sure that you're able to account or categorise transactions prooerly.

Since QuickBooks Self Employed does not track the value of the asset or vehicle cost, there's no need to trace the value of the car or the van. You can manually add or enter an expense entry for the purchased van. While doing this, I also recommend consulting an accountant for additional guidance on posting correct accounts or the right category of the entry. This way, you're able to make sure that your account stays accurate.

Here's how:

1. Go to the Transaction menu at the left panel. 
2. Select Add Transaction.
3. Enter the amount and a description.
4. Select the Select a category menu. Select the best category to organise your transaction. Learn more about categories.
5. Fill in the other necessary field.
6. When you’re done, hit Save.

For additional information, you can refer to this article: Manually add transactions in QuickBooks Self-Employed.

Please refer to this article to view different information on how the car, van, and travel expenses work in the system: About car, van, and travel expenses.

If you need anything else, please let me know in the comment below. I'll be right here if you need further assistance with QuickBooks Self-Employed.