Hire Purchase

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
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Office1
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Hire Purchase

Post by Office1 » 21 Jan 2020, 19:12

Hi all,

If I have an invoice for a piece of equipment say 15k from a company but had to get a loan for it and have separate invoice, how do I enter these transactions ?

TIA
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brucedenney
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Re: Hire Purchase

Post by brucedenney » 22 Jan 2020, 10:29

It depends...

You need to understand the credit agreement. Sometimes, they are a loan from the bank, sometimes they are HP or Leases and you may or may not own it.
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