tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/200-what-is-the-best-way-to-record-a-lease-loanInfinite Kind: Discussion 2011-04-09T01:27:25Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/1722152009-05-21T21:18:56Z2009-05-21T21:18:56ZWhat is the best way to record a lease (loan)?<div><p>Hi David</p>
<p>Thats a good question. There is nothing built into the
Moneydance software that can facilitate the tracking of a lease.
The way I understand it a lease is not a loan. A lease does not
involve you borrowing money from an institution and paying it back
in installments at interest. And therefor should not be accounted
for as a Loan (liability). I do not believe it is the case that you
owe a chunk of money to your auto dealer, rather that you have
agreed to pay them a fixed amount each month for a service (i.e.
the use of their car) Therefor it is my belief that the lease
payments should be accounted for as transactions to an expense
category.</p>
<p>If I am incorrect in my understanding of the agreement you have
with please forgive me and provide me with more information such
that I might better assist you.</p>
<p>Sincerely</p>
<p>Ben Spencer</p></div>Ben Spencer