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Re: Completing purchase of equipment

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August 12, 2013 09:22AM
To do an equipment purchase in 2 payments you will need to put the original "down payment" into a holding account and then use the money in that account when making the final purchase of the equipment.

1st transaction
Purchase "other asset" for the amount of the check - call it holding account
Pay with a check

2nd transaction
Purchase equipment at full amount
Negative to other asset account
Pay balance by setting up a loan or writing a check for the balance

I hope this helps.

Jeff Geiger
Farm Works Software

www.farmworks.com
jeff@farmworks.com
SubjectAuthorPosted

Completing purchase of equipment

tallrockAugust 11, 2013 08:44PM

Re: Completing purchase of equipment

Jeff GeigerAugust 12, 2013 09:22AM



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