I 'm an old guy already but I financed my first vehicle ever, as GM offered virtually no cash discount. How do I set that up when I financed the taxes too. I don't know why I didn't pay the GST up front. You can't have gst on a loan payment. The payments are over 6 years. I'm having a brain cramp. Anyone?
ADMIN RESPONSE
Feb 10, 2025
Hey Glen, it doesn’t matter that the taxes were financed. Post it as you normally would with a C+ line to add the capital asset and record the GST and then add an L+ line to record the new loan.
