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Re: Lease on Irrigators

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January 10, 2013 07:23PM
So are you actually purchasing these systems thru a lease to own program, or is it just a lease program? Are these lease payments for expense purposes only and no equity for your balance sheet?

Set up the balance as a loan with the full amount owed as long term, then the yearly lease payment as the short term portion. If you are actually using the full purchase price as a tax write off and claiming the equity.

Otherwise if it is just an annual lease payment (expense) with no equity, then I would just book it as an expense by creating a new account payable for the irrigation lease expense to get it on the books. Just remember to book the annual payable at the beginning of every year.

All depends on how you and your accountant are actually going to treat the expense and or investment?

Maybe helpful,

Mitch
SubjectAuthorPosted

Lease on Irrigators

WaynoJanuary 10, 2013 05:11PM

Re: Lease on Irrigators

Mitch KonenJanuary 10, 2013 07:23PM

Re: Lease on Irrigators

Kathy ClineJanuary 11, 2013 08:31AM

Re: Lease on Irrigators

WaynoJanuary 11, 2013 09:36AM

Re: Lease on Irrigators

Kathy ClineJanuary 11, 2013 09:54AM

Re: Lease on Irrigators

WaynoJanuary 11, 2013 10:24AM

Re: Lease on Irrigators

Mitch KonenJanuary 11, 2013 11:36AM

Re: Lease on Irrigators

Kathy ClineJanuary 11, 2013 12:00PM



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