Lease Accounting

Lessor tasks are not currently addressed in this solution. Lease Accounting is a single point of entry from which you can perform these tasks:

• Specify and maintain your leases.
• Specify and maintain any assets that are associated with the leases in Asset Accounting.
• Create and approve lease payment invoices and interface them to Payables for invoice processing.
• Automatically calculate rents, payments, and obligation balances.
• Automatically create journal entries in Global Ledger.
• Review the status of leases and invoices through invoice inquiry forms and the Drill Around® capability.

You can automate the lease classification specification by running a classification test. You can keep an audit trail of any changes that are created to leases and invoices. You can also generate a disclosure report based on ASU 842 requirements.