QB Issue Resolution:
(1) Set up an account “Vehicles” as a “Fixed Asset Account”.
(2) Set up “Vehicle Loans” as a “Long Term Liability Account”
(3) Create a General Journal Entry. Debit “Vehicles” “Fixed Asset Account”. Credit “Vehicles Loans” “Long Term Liability Account”.
(4) Write a check to the company you bought the vehicle from for the amount of the payment, use “Vehicle Loans” “Long Term Liability Account”.
Note: This is ONLY the amount of the vehicle. You will be applying any interest paid under an Expense account. At the end of the year your Accountant needs to have all Principle and Interest seperated. What I do is check the statement from the loan company, depending on what you pay and when you pay it the amount that is applied to the principle and interest may vary month to month. Just FYI.
Resolution for Issue 'How do I record purchase of a Semi-Truck for total price 151,300.00 and down payment 31,260.00 leaving unpaid balance due 120,040.00' available: Yes (Solved).
Source: Intuit Community forum.
How do I record purchase of a Semi-Truck for total price 151,300.00 and down payment 31,260.00 leaving unpaid balance due 120,040.00: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for 26000 leaving
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