Bookkeeping basics
Record a trade-in
Record a vehicle trade-in so the old asset comes off your books and any gain or loss is captured.
Put an old asset toward a new one, like trading in a work truck? Record it so your books stay right.
- When adding the new asset, choose that you traded something in.
- Pick the old asset and enter its trade-in value.
- Save.
Trade-ins apply to a vehicle you already have on your books.
What happens next — the old asset comes off your books, and any gain or loss is recorded.