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Status Answered
Created by AgExpert Support
Created on Mar 5, 2013

Disqus Agexpert Accounting Questions Archive

is the balance owing on leased equipment supposed to go into the capital lease payable account? or do i make a new sub account under machinery loans??

  • ADMIN RESPONSE
    Feb 10, 2025

    Hey cw05,
    If you have a capital lease payable account then you should feel free to post the outstanding amount under that account.  (I am assuming of course that it is a liability or loan account).  If you wanted to see details for each outstanding equipment lease then you could consider setting up sub-accounts to track individual leases the way that there are sub-accounts under Machinery Loans that allow us to track individual loans outstanding.

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