- Location
- Shropshire
Each monthly payment should be coded to the hp liability account - where you would normally put fuel/feed etc, you should be able to select the hp account you have set up. If there's interest too then do two separate lines egI marked the invoice as fully paid. Which it has been by the bank. This was by the HP liability account I created. So the original invoice is marked as paid and not coming up as money owed to the dealer.
I think inneed to put it against the HP liability account I created, but unsure how to do this. It doesn't come up as a debtor.
Loan Repayment £100 //hp liability// no vat
Interest// £20// interest// paid// no vat
Total //£120
Paid from current account
I have a feeling there should be a manual journal involved too but I can't remember why. @Boysground might know.