Account Set up

Posted by ME on June 24, 2009, 2:30 pm

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This is the situation:

had finacing for one truck, paying monthly...traded it in on a lease for a
new truck with different finace company. the previous truck was bought out
by the new dealer leaving it paid in full as far as my company is concerned
New truck is leased and there is monthly hst on the payments.

how do i show the buy out on the old truck and set up the lease payments for
the new one. tried loan manager on the new one but that doesnt have area
for hst (itc)

thanks for the step by step

Posted by Haskel LaPort on June 24, 2009, 10:05 pm

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> This is the situation:

> had finacing for one truck, paying monthly...traded it in on a lease for a

> new truck with different finace company. the previous truck was bought

> out by the new dealer leaving it paid in full as far as my company is

> concerned New truck is leased and there is monthly hst on the payments.

> how do i show the buy out on the old truck and set up the lease payments

> for the new one. tried loan manager on the new one but that doesnt have

> area for hst (itc)

> thanks for the step by step

Not enough details given unless responder goes through all types of if
thens. Start off by defining "hst".

Posted by Golden California Girls on June 25, 2009, 3:39 am

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Haskel LaPort wrote:

>> This is the situation:

>> had finacing for one truck, paying monthly...traded it in on a lease

>> for a new truck with different finace company. the previous truck was

>> bought out by the new dealer leaving it paid in full as far as my

>> company is concerned New truck is leased and there is monthly hst on

>> the payments.

>> how do i show the buy out on the old truck and set up the lease

>> payments for the new one. tried loan manager on the new one but that

>> doesnt have area for hst (itc)

>> thanks for the step by step

> Not enough details given unless responder goes through all types of if

> thens. Start off by defining "hst".

Tis my guess the OP is in Canada and he means Harmonized Sales Tax.

Posted by ME on June 25, 2009, 8:49 am

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yes hst is the tax.....i just need an overview of what to do...how to set up
vehicle lease and how to account for a buyout of existing vehicle...

> Haskel LaPort wrote:

>>> This is the situation:

>>>

>>> had finacing for one truck, paying monthly...traded it in on a lease

>>> for a new truck with different finace company. the previous truck was

>>> bought out by the new dealer leaving it paid in full as far as my

>>> company is concerned New truck is leased and there is monthly hst on

>>> the payments.

>>>

>>> how do i show the buy out on the old truck and set up the lease

>>> payments for the new one. tried loan manager on the new one but that

>>> doesnt have area for hst (itc)

>>>

>>> thanks for the step by step

>> Not enough details given unless responder goes through all types of if

>> thens. Start off by defining "hst".

> Tis my guess the OP is in Canada and he means Harmonized Sales Tax.