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syedaabidi
UTFORSKARE

purchase of fixed asset

Hello

I bought an equipment on installment. How do I record of purchase and 1st installment. I tried to use option 

Select Accounting - Fixed assets. 
Select New fixed asset. 
Fill in the information about the fixed asset.

but How do I record of payment of 1st installment?

 

Thanks

1 REPLY 1
Roffakab
CHAMPION

Hello

 

A purchase on installment is record:

 

Debet 12XX Fixed asset

Kredit 23XX Liability

 

The payment of 1st installment is record:

 

Debet 23XX Liability

Kredit 1930 Bank

 

So the Fixed asset is depreciated and the Liability is amortized with your payments.

 

Best regards 

RoffaK