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Subject Author Date
New Car / Old car bill 09-19-2007
Posted by bill on September 19, 2007, 8:40 pm
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Just got a new car, with trade in of old. Dont want this to show up as
any type of income when i zero out old car. Have old car setup as a
property asset and a property liability because of the loan. If i
lower the asset account to match the amount left on the loan and do a
transfer, would that do it?? Need to also setup new loan account for
new car ==should i also setup a asset account for it??

Anybody done this?? Whats the best way??



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