Hello,
I recently purchased a car for $17,000, paid in full; the deal included a trade-in of my current car valued at $3,500, so my final cash price was $13,500.
I normally record all car related expences and let the accountant workout personal/business proportions..
My question is about recording the purchase in Essentials and do I need to record it as an asset as well as an expense? And if yes, how do I do that?
Many thanks!