Hi all,
I'm struggling to find a clear answer on this;
I use cash basis accounting as I'm a sole trader, and earn a relatively low income and the business is fairly new.
I'm about to buy a new van. Does the total van value go through in one go? A business expense??
Also, its made up from, my money, a family loan, gifted money, and a tiny bit of finance!
Also the old van is being part ex'd towards it. Does that get recorded?
Thanks so much in advance!
Phil
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