Income from Leased Machinery/Equipment
How do you set up income from leased machinery/equipment? I assume you need a fixed asset account for Leased or Rented Equipment, an income account, and an item for the invoice. I also assume the equipment would be depreciated. There will be a buyout at the end for the customer.
Just want to check if this is correct and what entries to make.
Solved! Go to Solution.
Starting this year the rules for accounting for a capital lease have changed, I suggest you get with a tax accountant to insure the 2019 rules are followed