We recently purchased a new piece of equipment under finance, but we also traded in an old machine to go towards the purchase.
I went to put in a journal for the purchase of the equipment like this:
However, Reckon wont let me put in both sales and purchase on a journal entry, comes up with an error.
How do I enter this transaction?
Im using Reckon accounts Hosted
I went to put in a journal for the purchase of the equipment like this:
Dr Plant & Equipment GST on capital purchase
Dr Borrowing Costs No GST
Cr new loan account No GST
Cr Plant & Equipment (TRADE IN) GST on SalesHowever, Reckon wont let me put in both sales and purchase on a journal entry, comes up with an error.
How do I enter this transaction?
Im using Reckon accounts Hosted
Jeremy
It didn't prompt me when I did the GST on both, but when i tried to do NO tax code on the other lines, it gave me the error again.
John Gibson, Accredited Partner