if computers or laptops are taken on rental under which heading or group does it comes in tally and what entry should be made. please help out
thank u
uday rao bj (Accountant) (22 Points)
04 February 2023if computers or laptops are taken on rental under which heading or group does it comes in tally and what entry should be made. please help out
thank u
prasad Nilugal
( GST Practitioner & Accounts )
(14610 Points)
Replied 04 February 2023
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 04 February 2023
It's a straight forward operating lease.
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 04 February 2023
@ Uday rent is not a commercial transaction because your hiring something from a civilian. Lease is the better term because it holds commercialist. This must be mended in the books
MPR Sanjay Kumar
(3106 Points)
Replied 04 February 2023
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 04 February 2023
You have to show only the closing balance. What installments you pay impacts income statement and bank.
I don't mean to be rude but never contact me again
MPR Sanjay Kumar
(3106 Points)
Replied 04 February 2023
Which means iam preparing for balance sheet on 31.3.2022 means on that date closing balance amount IAM I right sir
sabyasachi mukherjee
(27330 Points)
Replied 04 February 2023
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 04 February 2023
didnt you pay rentals on every lease? When a company needs a car it leases and not rent. Because lease companies need to survive they discount the cost. Advantages? Lease is not flexible but if some established company finds that rentals are cheaper and so can leases be. That means the biggest people are not promoting leasing companies just because you know a driver who is alone but a lease company provides employment. Sabyasachi your a boring person to me cause you don't have any strategy in life and you always followed your cheap CEO policy which is for his own good. You know that belligerent and yet I can multiple arguments that your claim doesn't have a real validity in accountancy because you follow policies and it's not my job. Sometimes bro, rentals can be burdensome than an implicit rate? Do you have evidence that it is not. Your a ca and don't contact me anymore cause I have a mind ruin you.
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 04 February 2023
@ sabyasachi why wouldn't you consider an implicit rate better than rent? No standard in As, IFRS nor Indas addresses this comparitive advantage. But what big use of trying to be CEO when you don't lease equipment from a company who employed a dozen. This is economic development and besides the owner doesn't give a crap about us apart from living a lavish life. If you know the market rates for both, then keep quiet because your not a CA to know everything before you joined a small fraud company.
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 08 February 2023
Sorry I guess your into the business but many facts are answered properly. NOI on profitability. Whether is NOI does exists for peripherals and computers. Pros and cons is just the flexibility between rentals and operating leases but not the profitability facts. Taxation could differ. No logical explanation. A car rental is treated as an operating lease in EU. I don't know why AS standards are poor.
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 08 February 2023
Sorry I guess your into the business but many facts are answered properly. NOI on profitability. Whether is NOI does exists for peripherals and computers. Pros and cons is just the flexibility between rentals and operating leases but not the profitability facts. Taxation could differ. No logical explanation. A car rental is treated as an operating lease in EU. I don't know why AS standards are poor.
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