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MYOB Essentials – Set up to Assets and GST to enter Motor Vehicle Purchase

To enter a Motor Vehicle purchase transaction (straight purchase) you need to set up the Assets and GST and create the transaction. At Top of screen click YOUR Company Name

images/ME settings.png

Click GST Settings LHSide menu, and Ensure you have the following (if business is GST Registered) – or set as required

images/GST settings.jpg

Click Save at bottom

Back in the Settings from your Company Name at the top - Click the Accounts List (RHSide menu), and ensure there is a Long Term Asset account for Motor Vehicles – better still Create one SPECIFICALLY for that vehicle, with the Rego in the name for ease if identification for your tax agent.

 

Next - Create Motor Vehicle Purchase > Banking > Spend Money

images/ME spend money.png

And Save

Looking at Reports > GST detailed report,  the different Tax Code parts should be itemised

images/ME report GST detail.png

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Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
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