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R
Risho
May 26, 2021
Question

post income from lease

  • May 26, 2021
  • 1 reply
  • 0 views

QB DT: I need to prepare monthly invoices for a capital lease of a few items of the same product as a lessor. Soon, the amount of the product will increase. How do I set that up? Term is 12 months (going from one fiscal year to another) until lessee pays in full. Agreement does not say anything about interest. TIA

1 reply

J
JamesM4
May 26, 2021

Hello Risho,

 

Welcome back to the Community. I trust that business is going well on your end. QuickBooks Desktop is an easy-to-navigate program that allows you to make changes to your account with peace of mind. Rest assured, I'll be happy to share more info about increasing the product cost in your inventory. 

 

When you decide to increase the amount of the product, here are the steps you'll need to follow:

 

1. Click on Customers at the top of the screen and then Change Item Prices.

2. Locate and select the product in question. 

3. Enter the new price of the item in the Price field next to the item in the New Price column.

4. Hit Ok and make sure your changes are saved. 

 

If you're working with many invoices, I'd recommend taking a look at the Progress invoicing feature. This great feature allows you split an estimate into as many invoices as you need. Instead of asking for full payment at the beginning of a project, you can invoice customers for partial payments. I encourage you to check out this helpful article here that shows you how to take advantage of the Progress invoicing feature in QuickBooks. 

 

Let me know if this info helps. I'll be on standby in case you need further assistance. 

R
RishoAuthor
May 27, 2021

This doesn't seem helpful. I'm invoicing products as lease to own every month. The amount of products will be varying every monthly invoice. I need to know whether I need to make a journal entry and how and how do I invoice. What ACCOUNTS do I use for the invoice = Product Lease? Do I link that to regular sales? Do I need to open a lease receivable account? Thank you

J
JamesM4
May 27, 2021

Hello Risho. Making sure you're recording your transactions the way right is important for keeping your books clean. I encourage you to reach out to an accounting professional for expert advice on how to handle this. If you're not in contact with an accounting professional, you can reach out to one on our site using this link here. Feel free to ask other questions, I'm here to help.

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