Add lease amount to Keys to the Kingdom
For buildings that we rent, we want to make sure we enter the lease into Keys to the Kingdom. That way we can calculate our expense for that lease when calculating our numbers.
Step 1: Go to "Accounting" section and click on "Leases".
Step 2: Click on "Add Monthly Expense".
Step 3: Check if the settings are correct in "Add monthly expense" section.
- Rental - Address of the property
- Start date - Should be start date of the lease
- Monthly amount - Should be the correct lease amount
- ADB Unit of Account - Should be US dollar
- Kind - Either Rent/Insurance
- Click on Save to finish setup.