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How to use the Finance Lease Calculator

This calculator builds a full finance-lease amortization schedule, suggested opening journal entries, and year-end rollups for: interest/principal (Tax) and GST/HST paid + ITCs (GST rollup by Tax year-end).

1) Enter the case details

  • Client / Equipment ID are printed on exports and reports.
  • Fiscal Y/E (company) is a label for your file; rollups use the Tax & GST year-end inputs below.
  • Lease start date controls the schedule dates and GST timing.

2) Lease basics (finance lease)

  • Cash price becomes the opening lease obligation and equipment cost.
  • Interest rate, term, frequency, timing drive the amortization schedule.
  • Buyout adds a final “buyout” line on the last payment date (if entered).

3) Payment input vs calculated payment

  • Yes – compute payment: payment is calculated from price, rate, term, frequency, timing, and buyout.
  • No – I will enter payment: the calculator uses your payment amount and derives principal/interest.
  • If the payment is inconsistent with the other inputs, you may see a final reconciliation variance.

4) GST/HST method (important)

  • Upfront (finance lease): GST/HST is charged on the cash price at inception.
  • Per payment: GST/HST is charged on each payment (and buyout if applicable).
  • Business use % limits the eligible ITC.

5) Year-end rollups

  • Tax Y/E month + first Y/E year produces the interest/principal rollup by Tax year-end.
  • GST rollup summarizes GST/HST paid and ITC eligible by Tax year-end (as displayed).

6) Outputs & exports

  • Opening JEs shows two scenarios (upfront vs per payment) based on the method selection.
  • Export CSV buttons download the full schedule, Tax rollup, and GST-by-Tax-YE rollup.
  • Print hides buttons and prints the results section.
Note: This tool is for illustration and workflow support. Confirm the accounting treatment (ASPE/IFRS), the lease contract terms, and CRA GST/HST timing/eligibility for your client.
Finance Lease Calculator – ITC & Opening JEs

Finance Lease Calculator

Opening journal entries, full amortization, and year-end rollups for Tax and GST.

Lease Basics

Payments & GST/HST

Fiscal Year-Ends

Tax

GST