The help file talks about loans, but not leases. I have a lease-to-buy contract. I need to know how to set up and track a lease with a fixed payment amount for "X" number of months, with a $1.00 end of lease buyout and no pre-payment penalty.
Gary
setup lease contract - QB Pro 2008
Dec 08, 2008
2 Replies
You will need the cost of the item if purchased outright so you can calculate the imputed interest in the capital lease arrangement. Then just consider the lease as a loan and follow the help files.
I agree with Haskal--if it is a capitalized lease, just record it as a loan. So, you would debit the cost of the asset purchased and credit the lease as a liability. Then, make payments allocating part to principal and part to interest expense.
Michelle L. L> > The help file talks about loans, but not leases. I have a lease-to-buy
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