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capital lease: I am needing assistance with how to set up a company truck that was purchased by the Owner’s father in which we will be making the payments. We were instructed to treat it like a leased vehicle. So I am needing to know how to set it up in QBO.

Snice it sounds like the company will be keeping the vehicle, it is a capital lease, rather than an operating lease.

Set up the fixed asset account and accumulated depreciation in the chart of accounts, I do it this way
fixed assets
>> vehicle
>> >> cost
>> >> accum. depreciation vehicle

then create a liability […]

Resolution for 'capital lease issue: 'I am needing assistance with how to set up a company truck that was purchased by the Owner’s father in which we will be making the payments. We were instructed to treat it like a leased vehicle. So I am needing to know how to set it up in QBO.' available: Yes.

The capital lease issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the capital lease issue yourself by looking for a resolution described in the article. If it is a complex capital lease issue or you are unable to solve the issue, you may contact us by clicking here or by using other capital lease support options.

For more information about resolving issues related to capital lease in Quickbooks/QBO or to get support for the issue 'I am needing assistance with how to set up a company truck that was purchased by the Owner’s father in which we will be making the payments. We were instructed to treat it like a leased vehicle. So I am needing to know how to set it up in QBO.', click the link below:

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capital lease: How do I set up a copy machine lease so that the monthly payment shows up on my P&L budget?

It matter if this is a Capital Lease or Operating Lease.

For a Capital Lease, that makes it similar to a purchase agreement. Paying down Debt for a purchase is never part of the P&L. There is no JE; you pay with Splits on the check or bill, posting to Liability […]

Resolution for 'capital lease issue: 'How do I set up a copy machine lease so that the monthly payment shows up on my P&L budget?' available: Yes.

The capital lease issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the capital lease issue yourself by looking for a resolution described in the article. If it is a complex capital lease issue or you are unable to solve the issue, you may contact us by clicking here or by using other capital lease support options.

For more information about resolving issues related to capital lease in Quickbooks/QBO or to get support for the issue 'How do I set up a copy machine lease so that the monthly payment shows up on my P&L budget?', click the link below:

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capital lease: What are the steps for setting up an equipment capital lease?

You should get with a tax accountant for this one, a capital lease means you are assuming the risks of ownership of the item and also have depreciation to contend with.

The above assumes this is in fact a capital lease and not an operating lease – the tax accountant can […]

Resolution for 'capital lease issue: 'What are the steps for setting up an equipment capital lease?' available: Yes.

The capital lease issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the capital lease issue yourself by looking for a resolution described in the article. If it is a complex capital lease issue or you are unable to solve the issue, you may contact us by clicking here or by using other capital lease support options.

For more information about resolving issues related to capital lease in Quickbooks/QBO or to get support for the issue 'What are the steps for setting up an equipment capital lease?', click the link below:

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