Hi there, @lynn58.
Before we dig deeper into your concern, may I ask if you're trying to set up a regular lease inside your QuickBooks Online (QBO) company file? If so, I'll gladly input the steps below to get you started:
- If you are positive that the lease or rent is a traditional lease, you can create a Lease Expense account and debit this account for payments.
- If your lease is actually a conditional sales contract we strongly encourage you to speak with your accountant. According to the IRS ruling, "payments made under a conditional sales contract are not deductible as rent expense." With the advisement of your CPA, you should decide if you want to show this as an expense on your books.
For more details, you can refer to this article: How do I properly record lease payments?
However, if you're trying to automatically create the lease transaction, you can create a recurring transaction instead. This way it'll auto-populate inside your company. See this article for more information: Create recurring transactions in QuickBooks Online.
Also, if you're referring to something else, you can leave a comment below. This way, I'll be able to provide you with an accurate resolution to your query.
Moreover, I've got you this handy article to help you ensure data inside your company stays accurate: Run reports in QuickBooks Online.
@lynn58, feel free to drop by here again in the Community space if you need further assistance accomplishing your goals inside QuickBooks. I'll be here, always ready to help you. Take care!
