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While Recording a transaction regarding hire purchase. Is it good that we charge this to 1 month or we need to charge this in parts?

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Question ajoutée par Arsalan Munir , Accountant , Quick Electromechanical LLC
Date de publication: 2013/09/23
Muhammad Waqas
par Muhammad Waqas , Accountant , Rafiq & Sons

well, it depends if you are sure that the hire purchase will be for a complete month or couple of months, you can record it monthly. but ut would be better if you record it as it occurs day by day. because if you record it day by day even you discontinue that hire purchase during the month your results will be accurate and you will need not to pass furthure entries to adjust the balance as in case of monthly recording.

 

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