Purchase of Asset by Loan

Problem: The company purchased a vehicle, paid 30% down payment, paid 70% by loan. Enter 70% loan installment and interest deducting monthly.

Solution:

1. Enter Invoice Received from the Supplier for Vehicle Purchase:

2. Enter Payment Document for 100% down payment based on the Invoice Received: 

3. Enter Bank Receipt from the Creditor (transaction type - Loan Receive)  : 

4. Loan Deduction should be entered manually through Bank Payment document (Transaction Type - Loan Payment): 

5. Interest on Loan should be entered additionally in 2 steps:

5.1. Accrual for Interests using Other expenses Document  

DR account details:

CR account details:

5.2. Bank Payment (Transaction Type - Others): 

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