LEASE FORM
Submit via Bill.com
IACPA CLIENT/LESSEE NAME:
LESSOR INFORMATION
Today’s Date:
LEASE INFORMATION
Lessor/Vendor Name:__________________________________
Lease Start Date:________________
Address: ___________________________________________
Lease End Date:_________________
City, State, Zip: ______________________________________
Lease Term in Months: ____________
Point of Contact: _____________________________________
Lease Payment/Month:____________
Contact Email: _______________________________________
Interest Rate (if any):_____________
Contact Telephone: ___________________________________
Bargain Purchase Option:__________
Account Number: _____________________________________
Lease Classification:
 Operating Lease
 Capital Lease
Capital or Operating Lease Criteria Per ASC 840-10
No.
Check
if “Yes”
ASC 840-10 Leases, if ANY of the 4 is YES
then lease is a capital lease.
1
Does ownership transfer at the end of the lease to the
Lesee?
2
Does lease have a purchase option?
3
Does lease term equal to 75% or more of economic life of
property AND beginning of lease term not in last 25% of
economic life?
4
Does Present Value of minimum lease payments equal to
or is greater than 90% of lessor fair value of asset?
*Use incremental borrowing rate of lessee unless rate is available.
If any of above 4 is yes, then lease is a capital lease.
Complete “Capital Lease Information” section below.
Capital Lease Information
Asset Type:
 Furniture & Fixtures  Computers & Office Equipment
 Autos and Trucks  Machinery  Building (Land $____________)
 Intangible Asset  Other Asset: ___________________________
Total Asset Value/Purchase Price: _________________________
Asset Number: _______________________________________
Useful Life (Years):____________________________________
Asset Description
Additional Comments