Recording a loan for the purchase of a capital asset with a trade-in

     1. Select Transaction Entry from the Transaction menu. The Transaction Entry dialogue box appears.

     2. Select Deposit from the Transaction type drop-down menu.

    3. Enter the transaction Date or click the arrow to select it from the calendar.

    4. Select the Bank account.

    5. Enter a Reference to identify the transaction throughout AgExpert Analyst.

    6. Enter a Description or click the arrow to choose a previously entered description.

    7. Record a loan for the purchase of a capital asset with a trade-in as a withdrawal entry for zero dollars.

• Select Capital Asset purchase (C+) from the Type drop-down menu, select the capital asset classand enter the details of the purchase in the Add Capital Asset dialogue box, including the original cost.

• Select Capital Asset sale (C-) from the Type drop-down menu, select the class and the capital asset traded, and enter the dollar value received for the trade. 

•   Select Loan Addition (L+) from the Type drop-down menu and enter the amount financed.

     8. Click Record.

Last updated on February 6, 2013 by FCC AgExpert