Back-dated Lease Entry Failed To Generate Expected Entries Calculation (Doc ID 2500257.1)

Last updated on MAY 24, 2023

Applies to:

Goal

Property Manager calculates Present Values on Lease/Actual commencement date or 1st day of the month whichever is present and later.

However if lease is entered later than the commencement date the Amortization and Liability Interest still needs charged to P&L.


Example:
---------
Transition Date:  11/1/2018
Lease Commencement Date:  11/1/2018
Lease Entry date = 12/15/2018

**Note the Lease Entry Date is > than Commencement date thus the lease was Created and Finalized using a previous period for  lease commencement date and payment record effective start date

1.  Finalize Lease

2.  Run Generate lease details report:  This will only shows Present Value, amortization and interest expense calculation starting from the current period as if the lease only starts from the current period.  

Still need the following:

The equity account posting takes into account the following:

- Lease Liability Interest Charge for Nov
- Invoice Payment
-  ROU Amortization for Nov

Solution

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