To Record the Monthly Hire Purchase Interest Charges

 

1.   From the Bank Accounts toolbar, click Recurring.

2.   To add a recurring entry, click Add.

The Add/Edit Recurring Entry window appears.

3.   In the boxes provided, enter the monthly hire purchase interest charges:

4.   To accept your entries, click Save or to exit without saving, click Close.

You have set up a recurring entry for your monthly HP interest charges. You should now set up a recurring entry for the loan repayment.

You can enter the following information:

Trans type

Net amount

Bank A/C

Tax code

Nominal code

Tax

Day to post

 

Your next step...

To Record the Monthly Loan Repayment

Related Topics

Preparing to Post your Hire Purchase Journals

To Record the Hire Purchase Agreement