Hi, a couple of months ago I had my van stolen.

Just wondering how I should account for that in Solar Accounts?

Hi Bryan,

Create a new expense account called 'Loss due to theft' then create a General Transaction from the Motor Vehicles asset account to this loss account.

Regards,

Hi Mark, thanks for the reply.

Forgot to mention I have now recieved the insurance payout for the stolen vehichle, how should I record the payout?

Many thanks.

Hi Bryan,

See this page for details of recording the insurance payout:
http://www.solaraccounts.co.uk/forum/topic.php?TopicId=1279&Posts=4

Regards,

Hi Mark, I did look at that post, but as far as I can see when selecting the new money recieved option there is only the option to revieve money from a customer not from the any account?

Hi Bryan,

Please try this: In the Received From field of the Money Received window type the name of your insurer. Set the Type to 'General Payment', the From Account to 'Loss due to theft' and the Deposit Into Account to 'Cheque Account'.

Does that work? If not, please let me know the error message.

Regards,

Ok, tried what you suggested, no error messages, but the insurance payout now shows as income which it's obviously not.

Hi Bryan,

Please click menu File > Backup, then save the backup file and email it to me along with the ID of the payment. That will give me a better understanding of the problem.

Thanks

Hi Mark, will do.

There is one other thing I would like to ask your advice about.

I recently recieved two loans, one from my Wife and and other loan from my Sister in law. How should I record these?

Thanks.

Hi Bryan,

Create a new liability account called 'Loan from [name]' and then record the loan and repayments in the same way as a bank loan:
http://www.solaraccounts.co.uk/help/how-to-record-a-bank-loan-and-repayments.php

Regards,

That worked great thanks.