Changing a straight line payment schedule

In Lease Accounting, you can make changes to payment schedules. For example, if rent increases for the remaining life of a lease, then you can access Lease Payment Schedules and change the payment amounts for the remaining payments.

For payment schedules that are marked for straight line payments, you must override the straight line amount and create a manual journal entry in Global Ledger.

  1. From the Leases menu, open a lease record.
  2. Click Payment Schedule and open a payment schedule record.
  3. On the Payment Detail tab, select a detail record.
  4. Specify the new payment amounts for the remaining payments in the Payment Amount field.
  5. Click Save.
    The amounts for the remaining payments are adjusted in Payment Schedule and a completion message is displayed.
  6. Return to the Leases menu and click Overrides.
  7. In the Deferred Rent Amount Override field, specify the new override amount. To increase the override amount by an amount that is equivalent to the number of increased payments, subtract the old straight line amount from the new straight line amount.
  8. Click Save.