Transactions > Transaction examples - Capital Assets / Assets > Recording a loan for the purchase of a capital asset with a trade-in

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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 August 22, 2014 by FCC AgExpert