Finance Lease
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shelleym
Registered Posts: 31 Regular contributor ⭐
Hi Guys
I am looking for some advice on the treatment of a van purchased under a finance lease the purchase cost is 23127.80 plus VAT of 4625.56 and delivery plus registration 295 total financed 28048.36 less initial payment 2500.00+ Vat then 35 monthly payments of 374.09 + VAT and a final payment of 9825.40 any advise on the double entry for this purchase would be greatly appreciated as I am unsure of how to account for the VAT.
many thanks
Shelley
I am looking for some advice on the treatment of a van purchased under a finance lease the purchase cost is 23127.80 plus VAT of 4625.56 and delivery plus registration 295 total financed 28048.36 less initial payment 2500.00+ Vat then 35 monthly payments of 374.09 + VAT and a final payment of 9825.40 any advise on the double entry for this purchase would be greatly appreciated as I am unsure of how to account for the VAT.
many thanks
Shelley
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