company insurance MYOB entry proble

gemmang

Hi Everyone, i m at work so have to type english..

As mentioned i have a company insurance problem, Hopefully someone can help me the solve it

We have a insurance which is purchased with a funding company, premium is divided into installments.

The premium Amt is 13120 credit charge is 929 rate @7.08%
the premium also include GST $1147
Stamp duty 495

How should i enter it into MYOB..is this similar to the car lease?
BY the way,we are cash based...

Thanks a lot in advance....Cant wait to hear suggestions

confident

感兴趣，帮顶一下！lz别着急

Gladys123

How much is the installment?

gemmang

Hi Gladys

The installment amount is $1424.

Gladys123

Installment on insurance is different from car lease.

Sorry i cannot work out installment:
Premium 13120
Interest 929
total 14049

14049/1424=9.86 ???

Check the insurance statement, which will give you details about the GST portion of each installment. Assuming there are 10 installments, you could claim 1/10 of the total GST each month.

gemmang

Sorry, the installment is 1404.95

and ist Installment is 1454.95 representing 1 installment (Including 50 application fees)

gemmang