Reclassification of long-term debt into short-term debt
The purpose of reclassification is to periodically determine and transfer a portion of the obligations from the long-term debt account to the short-term debt account. The reclassification mechanism involves the following actions for the specified period:
- determination of the amount of actual short-term debt,
- determination of the amount subject to reclassification,
- creation of rows in the financial journal to account for the difference between these amounts.
Click the Reclassification Long-Term Debt In To Short-Term button on the panel of the corresponding leasing object. Specify the reclassification conditions on the form that opens:
| Field | Description |
|---|---|
| Start date | Specify the start of the period for which the reclassification will take place. |
| End date | Specify the end of the period for which the reclassification will take place. |
| Filter by Leasing object | Any filters on any fields of the Leasing object card are selected for mass calculation. |
Click OK. The system will create rows in the financial journal ready for posting.