entering vehicle trade-in


M

Me

I recently traded in a transport truck on the purchase of a new one @ the
cost of 142000.00 how do I enter into qb the trade when there was a full
payout for the existing truck with the price deducted from the cost of the
new truck? I have to loan 0 out but it still shows in my bs as fa

I only know basic accouting so am having a hard time with this and will
probably need step by step and layman terms to follow

please help, this is a small business and I am the only "bookkeeper" with my
corp tax return due.

tia
 
Ad

Advertisements

H

Haskel LaPort

Me said:
I recently traded in a transport truck on the purchase of a new one @ the
cost of 142000.00 how do I enter into qb the trade when there was a full
payout for the existing truck with the price deducted from the cost of the
new truck? I have to loan 0 out but it still shows in my bs as fa

I only know basic accouting so am having a hard time with this and will
probably need step by step and layman terms to follow

please help, this is a small business and I am the only "bookkeeper" with
my corp tax return due.

tia
Do you have an accountant or do you prepare the tax returns?
 
Ad

Advertisements

M

Me

I have done them myself the last few years, with the help of quicktax but
this trade in is making me spin my wheels
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top