DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Private use


#1

Is there a way to expense say 70% of my Motor vehicle expenses in my quarterly BAS (Cash basis). At the moment 100% of my motor vehicle expenses are deducted, despite me using 30% for personal use (as per log-book records).


#2

Possibly in future, we might add Private use functionality. For the time being, you should make a journal entry to account for this private usage of motor vehicle expenses.

You will need to calculate 30% of your motor vehicle expenses for the period (use P&L report), once you’ve done that. Multiple this amount by 1.1 (to add back GST amount). This will leave you with your GST inclusive motor vehicle expenses amount.

Then make a journal entry to credit this amount to Motor vehicle expenses account (use GST 10% code too) and debit your Drawings account in equity (leave tax code column empty on this line)