I have purchased car (do i record it as an asset on the motor vehicle section) although i have paid it from my business account?
I’m a partnership business not a LTD
Kind regards
Andrew
Hi Andrew,
If it is a business car, allocate the purchase to the 'Motor Vehicles' asset account. If it is a personal car, record a non-business payment as described here:
http://www.solaraccounts.co.uk/help/how-to-record-non-business-payments.php
Regards,