Finance Lease Agreement Query

Hi,

We purchased a company vehicle on a finance lease agreement and i am a little confused how to post correctly.

Deposit was £2634.00 plus VAT.

Then £450.56 plus VAT for 47 months.

Final payment of £15632.25 plus VAT.

I'm unsure whether to post as a liability or purchase invoice?

Thanks
Sophie

Posted by Sophie Hodgkins on Apr 16, 2020 3:25 PM BST

Hi Sophie,

You should record it as a purchase invoice - I think this help page is
relevant for your vehicle finance lease agreement:
https://www.solaraccounts.co.uk/help/how-to-record-a-hire-purchase-agreement

Posted by Solar Accounts Customer Support on Apr 16, 2020 4:01 PM BST