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When you take out a logbook loan, you’ll usually be asked to hand over your vehicle’s logbook or vehicle registration document.
These are the documents that prove you are the registered keeper of the vehicle.
But even if you don’t, you’re still handing over ownership of the car until the loan is repaid.
A few factors you need to consider when taking a logbook loan:
Making relevant entries into different ledgers and journals.
Preparing statutory accounts.
Ensure all Clients accounts are up to date in terms of fees and penalties.
Calculating and checking to make sure payments, amounts and records are correct.
Manage the company expense payments, including petty cash
Advice the staffs with the clients correct balances and assist them in interpreting the statement.
Responsible for Business bank accounts management, including bank reconciliation for loans and other payments
Prepare and verify daily accounting reports