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Entering this Transaction Canadian

Here is the Situation.

I just started a distribution(confectionary wholesale) business. I purchased a van for $36,500 plus HST of $ 5475.00 for a total of $41,975.00

My monthly payments are $318.00 per month

How do I enter this into QuickBooks (I am thinking a fixed asset account, but I am not sure of how to do this) I also want to be able to show the HST paid for my HST return. I also want to be able to enter in the monthly payments.

Also finally, how about the deprecation on the van, how would I set this up in QuickBooks?

Thanks,

JP

Reply to
John Pippy
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For how many months?

Reply to
Allan Martin

Actually it was supposed to say bi-weekly.

The terms 6 yrs, bi-weekly pmts $318.00 month at I believe 5.75%

JP

Reply to
John Pippy

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