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CCH Software User Documentation

Finance Leases

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This is for payments made for assets under Finance Lease where tax relief is granted for the entries shown in the accounts and not as a Capital Allowance.

This is located at Trading IncomeTrade Name, Finance Leases

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The data entry is made on a Period of Account basis and is as follows:-

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  • Description    Enter a unique description for each asset
  • NBV B/fwd    This is the Net Book Value of the Asset at the start of the Period of Account.  This is automatically populated with the NBV C/fwd value from the previous Period Of Account.  This can be overwritten if appropriate.
  • Additions    This is for the cost of any assets acquired under Finance Lease during the Period of Account
  • Disposals    This is for the disposal proceeds received on the Finance Lease on its disposal
  • Depreciation    This is for the depreciation charge as shown in the accounts.  This should also incorporate any amount shown as either a profit or loss on disposal of the Finance Lease Asset.
  • NBV C/fwd    This is the Net Book Value of the Asset at the end of the Period of Account.  This is automatically calculated based on the previous data entries made.

 

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