Required; found on the Inception tab.
In ASC 842/IFRS 16, whether the lessee has an option to purchase the underlying asset that the lessee is reasonably certain to exercise, not limited to reasons of option price.
In FAS 13, this was called a bargain purchase option, which was defined as “A provision allowing the lessee, at [the lessee’s] option, to purchase the leased property for a price that is sufficiently lower than the expected fair value of the property at the date the option becomes exercisable that exercise of the option appears, at the inception of the lease, to be reasonably assured.” [¶5d]
If such a provision exists in the lease, check the "reasonably certain purchase option" box, on the Inception tab of the lease record. If this box is checked, you must enter the purchase price in the Guaranteed Residual field. If the lease starts under ASC 842/IFRS 16/GASB 87, enter the same amount in the Expected Guaranteed Residual Payment.
If the option is not considered reasonably certain to be exercised, then it's not shown on EZLease's record at all (If you like, you can set aside one of the user-defined fields to store it for reference purposes). If it isn't entered as reasonably certain, but it does actually get exercised at the end of the lease, it would be recognized outside of EZLease as an ordinary purchase (5000 DR Owned Assets, 5000 CR Cash).
Note: Any lease with a reasonably certain purchase option is capital/finance [842-10-25-2b].