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Re: Bought new tractor

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September 21, 2009 12:02PM
I am assuming that you need to add the new equipment item, plus trade-in old item, pay off old loan and balance owed to new loan. If I have understood correctly, follow the steps below:

1. Go to Accounting-Payments & Purchases-Record Payment/Purchase. Select correct Vendor, enter date and description.
2. Click onto the New Equipment button. Setup new equipment item, along with account name. Enter the complete purchase amount before trade-in, click OK.
3. Click on the Loan Payment button. Select the old loan, make the principal and interest amount (if, applicable), click OK.
4. Go to the How you paid section. Click on the Trad-n button. Select the correct equipment name. Enter what was truley received for the trade-in amount. Click OK.
5. Click onto the Loan button. Select New. Enter the new loan description. The dollar amount should default to the balance of the transaction, which should also match what was financed for the new loan. If this number does not match, then we have enter the wrong amount for the new equipment purchase or wrong loan payment amount above. Click OK.
6. Click Record and Done.

Hope this helps!

Thanks,

Kathy Cline,
Farm Works Software
SubjectAuthorPosted

Bought new tractor

DaleSeptember 21, 2009 11:11AM

Re: Bought new tractor

KathyClineSeptember 21, 2009 12:02PM

Re: Bought new tractor

Kevin TrimbleSeptember 21, 2009 01:29PM

Re: Bought new tractor

KathyClineSeptember 21, 2009 05:16PM



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