Optional; found on the Main data tab.
ASC 842, IFRS 16, GASB 87
Under ASC 842, IFRS 16, and GASB 87, a Salvage value is not normally needed and rarely used, since you only capitalize the portion of the guaranteed residual which you expect to pay (which may be zero).
It was useful for ASC 840, because ASC 840 didn't have the "expected guaranteed residual" option, so salvage value was used to reduce the amount of depreciation expense taken because the asset value included the (inflated) liability with the guaranteed residual when that wasn't expected to be paid (in full or in part).
FAS 13 (ASC 840)
Enter the amount of the asset which should not be depreciated. This is typically used in conjunction with the Guaranteed Residual, in the same amount, under FAS 13. When a lease is set up with an equal Guaranteed Residual and Salvage value, the asset and liability will normally be equal at the end of the lease term, eliminating the termination gain that would otherwise occur. Note that if the lease has an ownership transfer or reasonably certain purchase option, depreciation is over the Economic Life, not the lease term; if the economic life is longer than the lease term, the asset will not be fully depreciated at expiration even without a Salvage value.
By itself, entering a Salvage value means that when the lease expires, its net asset (right-of-use asset less accumulated depreciation) is that amount. At expiration, a termination loss is recognized for the removal of the unamortized asset value. If you anticipate a termination gain from a Guaranteed Residual that you do not expect to actually pay (in part or in full), the Salvage can balance that out.