Calculating lease interest

This procedure is relevant only to finance leases and only calculates interest on lease payments that have been successfully interfaced to Payables.

After you have interfaced finance lease payment invoices to Payables, you must calculate the portion of the lease payment that is attributed to the interest. You must also update the Global Ledger interest account and debt account with the appropriate amounts. This procedure produces journal entries to Interest Calculation.

Select Lease Processing > Lease Interest Calculation.
Specify this information:

Company

To calculate the interest for a company, select a company number and leave the Company Group field blank.

Lease

If you select a lease number, then the Company field is required. The interest is calculated for that lease only.

Company Group

If you select a company group, then leave the Company field blank. You can calculate the interest for all of the associated leases with all of the companies in this company group.

Calculation Through Date

Select the through date to run the calculations. All uncalculated and unprocessed payments up to and including that date are selected for calculation. If this field is blank, then the system date is used as the end date.

Posting Date

Select the date to post the resulting journal entries. If this field is blank, the system date is used as the posting date.

Update

Select No to generate a report of invoices created. Select Yes to run the report and to create the invoices.

Currency

You can print the calculations in transaction currency or in company base currency.
In the Report Distribution section, select a distribution list and export type for Lease Interest Calculation Report.
Click Submit.