Buying a new van

Accounting
1

How do I physically record purchasing a new van in the accounts with 2k deposit of my own funds and 18k on hp

2

Hi @shygirl295,

The way I would do it would be to post the full invioce £20k in full as normal. Then tag the payment £2k the relevant bank account against the invoice and have a new ‘bank account’ set up for the HP scheme then tag a payment of £18k from the HP account to clear the invoice.

This previous post may help: Vehicle lease payments - what category?

1 Like
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Step by step how do I record buying a new van

Purchase raised under 0050

2k via funds in the current account (allocated)
18k via HP loan account not yet allocated as not sure how

4

Hi @shygirl295,

I have moved your post to one you started the other day. I believe I have answered your question above?

5

Thank you

Sorry couldn’t find the original post and notification that it was answered

Thank you for your help

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