I am a sole trader and have a van on a minimum term lease agreement.
I have been posting monthly payments to 0050 Motor Vehicles but now believe this to be incorrect as it does not appear in my P&L.
Could someone please give me some guidance on this?
Thanks in advance!
Select all entries on 0050 code and click on move to new code and dump into 7401 Car and Van Hire
Thanks for the prompt response. That’s great news for me.
As a follow up, I misposted this in last years accounts. Is there any way I can remedy this now??
Use journal entry instead then date this year