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• # 97586
• Tue 11 Feb 2014 09:50 PM

Hello

I'm hoping that someone can help me with this. These things are usually very simple when you know how.

I need to prepare journal(s) using Sage for a part exchange of a motor car.

The value of the ne car is £5200 and the part exchange is £900.

Does this rquire 2 journals - one for acquisition and one for disposal???

Not done this using sage before.

Thanks in advace.

Shernell

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• # 97647
• Sat 15 Feb 2014 07:36 AM

dr vehicle additions £5200, cr vehicle disposals £900 leaves a balance of £4300 which I assume will be HP so you would cr HP. If they are paying the balance you could cr the bank direct or cr sundry creditors then put an invoice to supplier allocated to sundry creditors which would write that amt off, but would show a creditor in your supplier list. 

Hope that helps

Louise

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• # 97649
• Sat 15 Feb 2014 12:26 PM

Hi Both,

you need to open a disposal account, on the left enter the amount of the value of the asset, on the right enter the disposal part exchange, amount recieved for the sale of asset and depreciation up to the date of sale needs to be worked out and also depreciation value as at now needs to be added to clear the journal. The aquisition of the new asset needs to be entered as a bank payment cr bank dr assets. Also for the disposal you will need to write off the asset from the asset account,

Kind regards

Paula Welsh

• Hello all,
  
  i just noticed we have a forum, just poking around the members area.  My name is Paula welsh and I have been a member since 2005, starting with Associate member and now a full member

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• # 97656
• Sat 15 Feb 2014 03:44 PM

Thank you Louise and Paula for your replies. This makes perfect sense and to use the words of Celine Dion - 'its all comming back to me now'

Presumably any loss on sale - £4600 (the original cost of the car used for part exchange was £5500 some yrs back) would be Cr disposals and Dr P&L??

Thanks again

Shernell

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