When you purchase a new professional or utility vehicle, you need to record it in Accountable. This is a mandatory accounting step: it adds the vehicle as an asset and enables timely amortisation, so you always know the current real value of your car.
How to encode it in Accountable?
To record a car purchase, you need the following details about your vehicle:
Name and model
Price
Professional usage %
Type of fuel
CO2 emissions
Date of registration
Date of purchase
Follow the steps shown below to record a car purchase in Accountable:
To get started, encode a car by creating an expense in the Expenses section. In the GIF above, the first step is to click Manually input expense. Use this option only if you do not have the invoice. Ideally, scan your purchase invoice: Accountable will automatically fill in the price and the car name. Without the invoice, Accountable will not be able to record your vehicle information correctly.
The GIF above covers two parts of the encoding process:
Entering the invoice details (as described above)
Adding the vehicle-specific information from the car manual (available from your supplier)
Make sure you also enter the professional usage percentage for the car. Accountable uses this figure to calculate your tax deductibility for the vehicle accurately.
Need help? Chat with us or email support@accountable.eu, we're happy to help.