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Post Info TOPIC: Part Exchange with vehicle not owned by company - what Sage entries are required
kazraz


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Part Exchange with vehicle not owned by company - what Sage entries are required
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Hi

How do I account (on Sage) for a vehicle that was used as a part exchange to purchase a new vehicle for a company but the part ex vehicle was never introduced into the new business.  The new van was purchased on finance and I have sorted out all of the relevant Sage entries but have left myself with a £2k entry on suspense as this was the value of the old van that was part ex'd.

All help appreciated re how to rid myself of the £2k suspense.

Many thanks

 



-- Edited by kazraz on Tuesday 25th of August 2015 06:12:09 PM

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Cheshire


Master Book-keeper

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Via the DLA?

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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