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How to Expense a Copier Lease in Accounting

Expense a Copier Lease in Accounting

Copier leasing always induces a regular expense for any business entity engaging in it. Your payment basis may be monthly, quarterly, or annually as the contract goes. But you may have a hard time applying this copier lease to accounting.

But before that, we need to delve into the overview of copier leasing and its details.

What Is Copier Leasing?

Copier leasing is the system of undergoing a contract with a copier leasing company and paying for the machine’s ownership in a period. In copier leasing, the equipment is yours unless the deal is completed.  

There are a bunch of copier leasing services all over the world. Each one has unique product and service offerings. But among the copier leasing services in Fresno, there is one copier leasing company that stands out the most.

Copier Leasing In Fresno

Copier Lease Fresno, CA, is a copier leasing branch by Clear Choice Technical Services that ensures affordability and convenience. You do not even have to worry about the documents because everything is made simple. With this, you can easily undergo the contract signing process and procurement of the copier brand you want.

The payment options are also flexible. You can set the basis of your payment and its corresponding amount. You can pay via debit or credit cards or in their office in terms of payment mode.

To have their best deals, you can contact them at (559) 201-0477. 

But that is not all. You can also choose the copier machine brand that you will lease. You can ensure that the machine is the best depending on your company’s operations.

The following is the list of some brands that they offer:

  • Pitney Bowes
  • NEC
  • Canon
  • Panasonic
  • HP LaserJet
  • Gestetner
  • Color
  • Kyocera
  • Ricoh
  • Toshiba
  • Xerox
  • Konica Minolta
  • OCE
  • Imagistic
  • Savin
  • CopyStar
  • Lexmark
  • Sharp
  • Lanier
  • Samsung

Notable Features 

  • Convenient

It is really convenient because you can easily accomplish the contract without excess hassle. They guarantee not to bombard you with documents. Instead, they will guide you through the entire process.

  • Affordable

There is a minimum upfront cost for each machine. The brands that they offer also are the lowest price guaranteed. With this, you can save more than in any copier leasing companies around.

  • Flexible

The payment options are flexible. You can choose among different payment periods on a monthly, quarterly, or annual basis. You can also compromise the periodic payment if you negotiate with the company.

  • Maintenance Assurance

The maintenance crew would always make a regular visit to keep your machine in good condition. You can also do them if you face any difficulties with the machine’s functions. But they guarantee that you will never experience any downtime because the machine is sustained by consistent maintenance.

How to expense a copier lease in accounting?

In recording the copier lease in accounting, you will need the Cash, Office Equipment, Notes Payable, and Office Expenses accounts. You have to write the entire payment you will be spending under Notes Payable and Office Expenses. You will debit the Notes Payable (decrease) and credit Cash (outflow of money).

Every payment period, you should update your journal entries to make sure that you balance the elements. You will only get a zero balance for the copier machine once you have completed the conditions in the contract. Thus, either you stop leasing or continue with the contract by renewing it or upgrading the terms and conditions.

Leasing the best copier machine for your entity puts you in an advantageous position. You can rest assured that you will be delivered with the best customer service that they can give. On your part, it is equally important to maintain your financial records with the copier lease to preserve accuracy in the business’ financial statements.