Sale of Vehicle?

Diver4242
Diver4242 Member ✭✭
edited November 2023 in Managing Your Transactions

We have a vehicle (asset) at $17k opening balance (it's current value). We just sold it. I see the person's $17k check/deposit now in our checking account as 'personal income'. How do I categorize that to drop the value of the asset to zero? We will also use the money to buy another vehicle, so that as well. Thanks!

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  • RobWilk
    RobWilk Superuser ✭✭✭✭✭
    Answer ✓

    @Diver4242 Can you set it up as a Linked transfer from the Asset (the vehicle) to the checking account? That is, in the check deposit, set the category as a transfer from the asset. If so, that's how i would handle it.

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    Rob Wilkens

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