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Buy nowHi Rustler,
I have followed your advice regarding this process successfully, except our purchase of a vehicle also included a $10,000 "loan" from me to my husband for the majority of the downpayment for the vehicle. Hubby put $2,000 down, for a total of $12,000 down. I do want to set up the $10,000 as a liability account as he is repaying it monthly. How would I record this in QBDT ?
In addition, the Bill of Sale has the Extended Warranty amount and the GAP insurance, sales tax, fees, etc. which was all financed. Should these other items be categorized in the check (expenses) as well, when I record the purchase of the vehicle? (I do know how to set the accounts up, IF I need to). Thanks for your response.
Victoria H.