ReferenceRentals & fleet
New operating lease
Open Leases → NEW in Thermal →
What it's for
New operating lease places equipment with a customer on a fixed monthly payment. The screen states what that payment covers: "Fixed monthly payment bundling the equipment + install + full maintenance. Straight-line lease revenue recognizes monthly once commenced."
Reach it from New on the Leases list, at /leases/new.
Tabs
The form has no tabs. It is one page.
Panels and controls
- Lessee (customer) — who the lease is with.
- Equipment — the unit being placed.
- Deployment site — where it goes.
- Commencement date — when the lease starts. This is the date revenue recognition begins from, so it is not merely a delivery date.
- Term (months) — the committed length.
- Billing cadence — how often the customer is invoiced. The cadence is separate from recognition: you might bill quarterly and still recognise monthly.
- ASC 842 classification — how the lease is classified for accounting. Thermal runs beside your accounting rather than inside it, so this field is recording the classification your accountant decided, not deciding it.
- Initial direct costs — the costs of getting the lease in place.
- Create lease commits it; a lease can be created and activated in one step or created first and activated when the unit is actually placed.
What it accepts
| Field | Format | Required | Rule |
|---|---|---|---|
| Lessee (customer) | Pick a customer | Yes | |
| Equipment | Pick a unit | Yes | |
| Deployment site | Pick a site | Yes | |
| Commencement date | A date | Yes | Revenue recognition starts here |
| Term (months) | A whole number of months | Yes | The committed length |
| Billing cadence | Pick a cadence | Yes | Independent of monthly recognition |
| ASC 842 classification | Pick a classification | Yes | Records your accountant's decision |
| Initial direct costs | Dollars | No | The cost of putting the lease in place |
How to configure it
- This screen belongs to the Rentals module — see Settings → Capabilities.
- Invoicing settings decide the cadences offered and what a lease invoice looks like.
- Integrations settings decide whether lease revenue reaches your accounting system automatically.
- Job costing settings decide how bundled maintenance cost is attributed.
Who can see it
This screen sits behind the Rentals area, and additionally behind the Rentals module.
Owners and office managers can open it where the module is on. Dispatchers and technicians cannot. The gate is checked on the server, not just hidden in the sidebar, so a direct link does not get around it.
The full role matrix is on Roles & permissions.