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Hello there, jstamant.
The method for recording vehicle lease payments in QuickBooks Online (QBO) depends on the type of lease. For an Operating lease, you can record the payment as an Expense transaction, as no asset is involved.
Here's how to record an expense:
- Hover over to the +Create menu.
- Click Expense under Suppliers column.
- From the Expense window, fill in the necessary fields.
- Once done, click Save and close.
On the other hand, if it's a Capital or Finance lease, it may require recording both an asset and a liability. I recommend reaching out to your accountant for further assistance to ensure the full amount is recorded appropriately in the system.
Don't hesitate to visit us again in the forum if you need anything else.
