treatment of vehicle lease hire agreement

Discussion in 'Accounts & Finance' started by rlellie14, Jan 16, 2018.

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  1. rlellie14

    rlellie14 UKBF Newcomer Free Member

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    Hi
    I know this is basic accounting stuff and I need to brush up a bit on latest standards so bear with me...
    Company I have just joined took out a 48 month hire agreement on a van in June. Should I be putting the monthly rental payments through the P+L or should I be putting the cost of the vehicle to the Balance Sheet?
    Thanks!
     
    Posted: Jan 16, 2018 By: rlellie14 Member since: Oct 24, 2011
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  2. STDFR33

    STDFR33 UKBF Big Shot Free Member

    4,690 1,263
    P&L.
     
    Posted: Jan 16, 2018 By: STDFR33 Member since: Aug 7, 2016
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