Can I jump in on this? Basically the same scenario, but I am debating whether or not I need to create a fixed asset for the equipment itself, and an intangible asset account for the other costs (taxes, fees, service contract) that are being financed.  Depreciate the fixed and amortize the intangible.  Would that be right, or is that only done on really big ticket dollar asset / loans?  Thank you, Rustler!  I've been seeing your posts as I've been searching this topic, and you are very helpful, and give very clear information.  It is VERY MUCH appreciated!