Best way to record a new motor vehicle purchase?

Denise Durant
Denise Durant Member Posts: 47 Reckoner Reckoner
edited October 2024 in Reckon Accounts (Desktop)

Hi all, I'm using 2024 Reckon Accounts Desktop. Can you please give me some guidance on the best way to enter the purchase of a new motor vehicle and the finance contract please.

Should I enter the tax invoice for the vehicle as a bill or make a journal entry for the purchase? How should the finance contract be entered.

Sorry, I'm always a bit confused when it comes to recording motor vehicle purchases with finance.

Best Answers

  • Kris_Williams
    Kris_Williams Member Posts: 4,277 Reckon Hall of Famer Reckon Hall of Famer
    Answer ✓

    I can help you with this if you would like to call me 0415 940843

  • Denise Durant
    Denise Durant Member Posts: 47 Reckoner Reckoner
    Answer ✓

    Thanks Kris, I will give you a call today

  • Denise Durant
    Denise Durant Member Posts: 47 Reckoner Reckoner
    Answer ✓

    Many thanks for your help today Kris, you explained the process fully and I really appreciated it (and on a weekend too!)

    Denise

Answers

  • Alexis McKeown
    Alexis McKeown Reckon Staff Posts: 596 Reckon Staff Reckon Staff

    Dear Denise,

    Which version of Reckon Accounts 2024 are you currently using?

    If you're using Reckon Personal Plus or Home & Business, the function exists under the following menu:

    1. Go to Property & Debt;
    2. Select Add Account;
    3. Select Vehicle (with or without Loan).

    Kind regards,

    Alexis McKeown

    Reckon Senior Technical Support

    Alexis McKeown

    Reckon Senior Technical Support
    Working hard since 2018
  • Kris_Williams
    Kris_Williams Member Posts: 4,277 Reckon Hall of Famer Reckon Hall of Famer

    You’re very welcome Denise, always happy to help

  • Zappy
    Zappy Accredited Partner Posts: 5,252 Accredited Partner Accredited Partner

    @Denise Durant

    PLEASE speak to your accountant

    This is a board for software problems

    NOT Accounting advice

    Remember the advice you get is worth what you pay for it.

    Sometimes, not even that.

    Regards

    Zappy

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