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Status Answered
Created by AgExpert Support
Created on Feb 18, 2017

Disqus Agexpert Accounting Questions Archive

How do I enter a bin lease for three bins that we are now paying out and add them as a capital asset and make it balance.

  • ADMIN RESPONSE
    Feb 10, 2025

    Good morning TLC!

    Generally, you will not enter anything in regards to leases, except for the payments as you make them. You do not own the bins - the leasing company does. Unless you are specifically told otherwise by your accountant, then all you will do is expense your lease payments as you make them. You will not list the bins in your capital assets at all, until such a time as you choose to buy out at the end of your lease term.

    I hope this helps you out!

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