Leased equipment vs purchased equipment?
I have the organizational requirement to handle leased equipment within the current procure-to-pay and supply chain processes.
1. Leased equipment is equipment we are getting from supplier which we intend to give back after few years of use and we will be paying monthly rent for these equipment. One key point is that each equipment is tracked with manufacturing serial number.
2. Supply chain does not want to differentiate whether equipment is a leased equipment or purchased equipment. They want to operate in the field without worrying about leased or purchased equipment.
3. Accounting team does not want to account for the leased equipment because it is not the asset of the organization.