What is ment by leased asset?

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What is ment by leased asset?..

Asset which is not owned by you and you bring the asset on
lease for a predetermined period which can be extended from
time to time.

In this process two parties are involved Lessor and Lesse.

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What is ment by leased asset?..

Answer / manireddy

Leased asset involve
lessor and lease.

setups
1. create the leased asset category
2. lease details ( who is the lessor)
3. lease payment schedule( amount per month)
4. create lease asset with detail additions
5. lease payments.

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