Lease Information


1. From the assets home screen, select '+Add' located in the upper right corner.

  •  Select 'HP/Lease Asset'


2. Fill in mandatory fields (denoted by an *)


  • Name*
  • Group*
  • Hire Purchase Yes/No*
  • Lease Start Date*


3. Fill in required payment information


  • With the Generate Schedule auto function, or
  • Enter the date,
  • Principle,
  • Interest,
  • & Other Expense of each payment.


Depreciation Information


1. Enter the Amount Capitalised, (this can vary from the leased amount)


2. Enter the tax depreciation values if required, (only required for Hire Purchase assets)

  • Tax depreciation method (Only set if 'Yes' to hire purchase, leave as Doesn't Exist if 'No to hire purchase)
  • Enter Effective Life.


3. Enter the accounts depreciation,


  • Accounts depreciation method,
  • Enter Effective Life.


4. Select 'Save' in the top right corner. And you will be redirected to your new assets page.



Notes:

Optional fields include,


  • Add Tax and Accounts notes,
  • Set Taxable Use.


If you select a date that qualifies for the Backing Business Investment (BBI) Accelerated Depreciation, you will notice a new check box displayed in the Tax Depreciation settings. Select this button to use BBI tax methods.