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Created by AgExpert Support
Created on Apr 26, 2018

Disqus Agexpert Accounting Questions Archive

I made two separate payments towards a capital asset before the loan was set up. How do I set this up?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Rebecca, Sorry for the delay answering - somehow I lost this one in the shuffle. Enter the first payment as a withdrawal offset by an A+ line to Prepaid Items. Then enter the second payment as a withdrawal again, but this time use an A- line to pull the deposit out of the Prepaid Items account and then you can enter a C+ line for the full value of the new capital asset.

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