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Owner purchasing company vehicle for personal use - Printable Version

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Owner purchasing company vehicle for personal use - Cheyenne44 - 02-07-2019 01:31 AM

The owner is purchasing the company vehicle for his own personal use, but is not actually paying it. Instead he wants us to "pay" him the amount of the loan payment each month ($900) to show he is receiving an income, but use it to write down the amount he owes the company for the truck. The business will also keep paying the loan on the vehicle until it is paid off. How do I record all of this in my system?