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Record New Equipment Leases ei new computer

MMaynardMMaynard Member Posts: 6

What are steps to record a lease and lease payment that is automatically debited form account

in Accounting Technical Support

Comments

  • MikegMikeg Member Posts: 995 ✭✭✭

    @MMaynard,
    If it is a true lease i.e the computer is returned when the term of the lease expires then you would expense the payment as Equipment Lease

  • MMaynardMMaynard Member Posts: 6

    It is a 48 month lease, with the option $10 buy it out at end of lease

  • MikegMikeg Member Posts: 995 ✭✭✭

    @MMaynard,
    Then I would expense as equipment lease.

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