Accounting for Loans and Hire Purchase Agreements

[@shalommashele8974]

Hi, I got financing from a financial institution to purchase a gas station from a dealer. The finance amount was paid directly to the dealers account instead of mine. How do I journalize the loan.

[@mingshuzhuang6433]

shouldnt it be accounted for as a lease under IFRS 16?

[@yorkie18]

Hi there - very helpful, thank you. How do we get the amount into asset code please? I have followed your other video about posting the payment, but it only shows the deposit in my asset account.

[@iboamah]

Very useful, and well explained, thank you

[@XUSolutions]

😊

[@jasonbig2653]

Can you claim vat back for a HP car which is not 100% business use?

[@XUSolutions]

No you cant

[@jasonbig2653]

@@XUSolutions thanks

[@vikeshparmar8429]

Thanks for the video👍
It's really helpfull

[@XUSolutions]

you're welcome

[@meocon3114]

Thank you, very helpful!

[@XUSolutions]

You're welcome!

[@shahabuddinahmad8792]

absolutely fantastic

[@XUSolutions]

thank you

[@domthugdom]

could you please show how to account this in xero

[@XUSolutions]

Check out this video How to enter Hire Purchase payments in Xero
ua-cam.com/video/bzwPmiCjt4s/v-deo.html

[@domthugdom]

@@XUSolutions thank you