How to Process a Trade In on a New Vehicle

[@righttolearnrighttolearn2668]

Teacher can you explain : how to use( if and or) formula in the Excel and how can do financial statements entire in the Excel..???

[@buffykingry4940]

Hi Candus. Thank you for making this video. I am finding it very helpful. I do have a question... at the 3:27 mark, you talk about what numbers and math need to be used/done to find out the "gain/loss" on the asset. However, on the google sheet you show a little later in the video (specifically in the journal entry breakdown section of that sheet), the number you got as a gain/loss ($12,878.42), is listed beside "trade in on RAM-Ford Asset" and the "Gain/Loss" line in that section is blank. This is confusing to me. Are those two labels "trade in on RAM-Ford Asset" and "Gain/Loss" one in the same thing?

[@CandusKampfer]

Hi, Thank you for watching our video. I'm so glad to hear you've found it helpful! If you're interested in more in-depth training on this topic, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@CandusKampfer]

That's a great question! In the video, we had a few extra variables. The trade-in allowance vs book value and we ended up reducing the new asset instead of using gain or loss. I left the line for gain/loss to explain when to use it and to show where it would go. If you have a complex transaction I'd recommend checking with your tax professional how they'd prefer you track it. Thank you for watching my videos 🤗

[@user-ku6pw2yb8s]

How do you do the entry if you are paying cash and have a down payment?

[@ronstanley9638]

How do I make a journal entry to enter RECAPTURE OF CAPITAL COST ALLOWANCE? Thanks!

[@cohenhawk1]

If you want to show a vehicle on consignment and wondering how to resell same customer a new vehicle and give record the sales tax credit for the consignment against the sale of new vehicle?

[@elviavalle687]

Hi if I have sever trucks can I make a subtitle for loan trucks or original cost ?