Leased Vehicle

How do I to book a leased vehicle?



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Bop on over to my page on Capital Lease versus Operating Lease.


On that page, you'll find information on how to determine which type of lease you have and the bookkeeping entries for each type.

Comments for Leased Vehicle

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Oct 23, 2014
 Setting Up Capital Lease
by: Canadian Bookkeeper

A client has just leased a vehicle (through the business) for the first time and he has just made the first lease payment. How do I set up this lease on QuickBooks?

This is the information I have been provided with:

--- lease term 36 months (start date Oct. 6/14)

--- monthly payment $442.32 + 57.50 HST (final payment Sept 5/17)

--- total of payments $17,993.52
Oct 23, 2014
 Canadian Bookkeeper
by: Lake

First you need to see the actual lease documents and place a copy of the lease in your permanent files.

Follow the "lease" link above to learn how to book your entries.

Before you can apply the payment, you will need to set up your lease which entails determining whether you have a capital or operating lease.

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