Calculating lease payments and displaying current creditor debts
Calculation of rent is possible by creating and posting general journal lines or by creating and posting a Purchase order.
Calculation of rent by creating and posting General journal lines
Click on the Leasing Calculation button on the panel of the corresponding leasing object. Specify the conditions for calculating the rent and displaying the accounts payable on the form:
| Field | Description |
|---|---|
| Start date | Specify the start of the period for which the calculation will be made. |
| End date | Specify the end of the period for which the calculation will be made. |
| Filter by Leasing Object | Any filters can be selected for any fields of the Leasing Object card for mass calculation. |
Click OK. The system will create rows in the financial journal. The system will create as many rows of accruals as there are periods of accruals multiplied by 3. That is, if we make accruals for the first 3 months, and the Payment frequency is monthly, then the system will create 9 rows, 3 for each period.
The lines created include:
- Increase in current payables.
- Accrual of Leasing Interest.
- Decrease in short-term liabilities.
Note
If the Check Existing Accruals for Leasing Calculations function is enabled in Leasing Setup, the system will not create general journal lines when calculating the lease if they are either already created in the journal or have already been posted, or if there are no lines in the journal but there are entries in the vendor transaction book with the document type "Invoice" where the transaction amount for the leasing object for the accrual period is less than zero.
##Accrualing rent by creating and posting a Purchase order
Enable the Use purchase orders setting on the Leasing Setup page. In the Leasing Object card, fill in the fields:
- Leasing Item No. - the item (service) code that will correspond to the value Lease payment. Body of the Lease calculations table.
- Leasing Interest Item No. - the item (service) code that will correspond to the value Lease payment. Interest of the Lease calculations table.
- Leasing Percent Item No. - the item (service) code that will correspond to the value Non-lease component of the Lease calculations table.
Click on the Leasing Calculation button on the panel of the corresponding Leasing Object. Specify the conditions for accrual of rent and accrual of payables on the form:
| Field | Description |
|---|---|
| Start date | Specifies start of the period for which calculations are executed. |
| End date | Specifies end of the period for which operations executed. |
| Filter by Lease Object fields | Any filters are selected for any fields of the Lease Object card, for mass calculation. |
Click OK. The system will create a separate Purchase Order document for each leasing object.
Note
If the Check Existing Accruals for Leasing Calculations function is enabled in Leasing Setup, the system will not create a Purchase Order if there is an accounted (not reversed) purchase invoice for this period for this Lease Object.
To automatically account for purchase orders when accruing rent, activate the Auto Posting Leasing Purchase Order setting on the Leasing Setup page.