I've just started to use Solar and must state as a 'non accountant' how impressed I am with it. I will certainly be purchasing.
Is there any information posted on the above please?
Hi Barry,
We don't have a help topic on recording a capital purchase - just record it as a Money Paid Out transaction allocated to an appropriate asset account.
To record depreciation on the asset, see here:
http://www.solaraccounts.co.uk/help/how-to-record-depreciation-of-an-asset.php
If you are on the Flat Rate Scheme for VAT and want to reclaim the VAT on your purchase, see here:
http://www.solaraccounts.co.uk/help/notes-on-the-flat-rate-scheme-for-vat.php
Cheers,
