Leasing invoice

1

Hello All,

could you please help me in issuing an leasing invoice covering both the leasing amount to the leasing provides, as well as the initial contribution for the final customer?

I have a product worth 24 000. 22 000 is to be paid by the leasing provider and the initial 2000 by customer. I have created 2 lines for the leasing company - 24 000 and negative 2000 initial payment + a separate invoice for 2000 to the customer. the leasing company has demanded an invoice for the full amount (as contracted), but paid 22 000 as a part of the leasing contract. how can I attach the remaining 2000?

Regards,

G

2

Create an invoice to the leasing company for the full amount of 24,000

Record the receipt of the 22,000 when they pay it

Record the receipt from the customer to the custmer’s account and then use a journal entry to transfer the 2,000 to the Leasing Company’s account

The invoice to the Leasing Company is not income but held on the balance sheet - the income is provided by the customer’s payment

See here IFRS - IAS 17 Leases

3

thank you very much Joe91.
I am just wondering what document could I issue to the party paying the 2000. We have 24 000 inclusive of VAT. If I issue another invoice of 2000, then the VAT is calculated twice?
Regards,
G

4

Why not just issue a receipt to the paying party?

5

You need to talk to your accountant about how to handle these transactions.

Leasing transactions come in two guises = operating and financial

The accounting can be tricky, as you have discovered and so, it is best to get proper advise from the start

6

I will do it immediately! Thank you once again!

G