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Status Answered
Created by AgExpert Support
Created on Nov 28, 2022

Disqus Agexpert Accounting Questions Archive

wondering what the best way to enter a down payment (deposit) on a capital asset purchase? I will want that value to move into the actual value of capital asset when the payment in full is made

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi there! The best way to hang on to that deposit and use it later is to post it as an A+ line to Prepaid Items. Then when you do the actual capital asset purchase you can use an A- line to pull that amount out of the Prepaid Items account and include it in the value of your C+ line instead.

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