FreeBalance Accountability Suite
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EspañolLeasing/Purchase Comparison
Overview
Asset Leasing Purchase Comparison compares the option between buying and leasing an Asset. Users are able to enter purchase and lease information provided by a Vendor and a Leaser and compare this information for decision making purposes.
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Assets ► Leasing / Purchase Comparison
Leasing/Purchase Comparison screen Fields and Tab
Field | Description |
ID | Unique identification code of the Leasing/Purchase Comparison |
Comparison Date | The Comparison Date is automatically system generated. This displays the date and time the Asset Leasing Purchase Comparison is saved |
Language | Language used |
Abbreviation | The short form describing the Leasing/Purchase Comparison |
Description | A short description of the Leasing/Purchase Comparison. |
Remarks | Refers to comments regarding the Asset Leasing Purchase Comparison |
Asset Class | Refers to the type of Asset |
Useful Life | Its written in terms of years and its used in the calculation of depreciation. Useful Life is used for the asset leasing purchase comparison |
Salvage Value | The salvage value is the expected value after the asset item has been fully depreciated |
Average Annual Maintenance Cost | An estimated annual maintenance cost of the Asset Item |
Insurance Annual Cost | An estimated insurance annual cost of the Asset Item. The insurance annual cost is optional because some Assets don’t require insurance |
Capital Cost | Refers to the average loan rate per year. It will be used to calculate the NPV (Net Present Value) |
Asset Item Price | Price of the Asset Item. It is part of the purchase information |
Other Initial Purchase Cost | The cost incurred when the first purchase payment was made |
Depreciation Method | Describes the decline in assets overtime |
Payments per Year | Number of leasing payments per year |
Leasing Term | Quantity of payments of the leasing contract |
Leasing Fee | Refers to the leasing cost/charge |
Other Initial Leasing Cost | The cost incurred when the first leasing payment was made |
Security Deposit Amount | The amount paid for a security deposit. Some leasing contracts require it and some don't |
Is Security Refundable? | It indicates if the security deposit amount is refundable at the end of the lease term |
Responsible for Maintenance? | When checked the user will be responsible for the maintenance costs during the term of the leasing contract |
Responsible for Insurance? | When checked the user will be responsible for the insurance costs during the term of the leasing contract |
Buy Option? | When checked the the user will buy the asset at the end of the leasing contract |
Option to Buy Price | The price to buy the asset at the end of the leasing contract |