Operating lease
Because an operating lease is a straight expense, the posting of all journal entries to Global Ledger occurs in the Payables solution.
Monthly payment of $1,000.00, including a non-lease component of $50.00.
Use Lease Posting to create entries.
The invoice is created after lease payments have been interfaced to Payables.
| Account name | Debit | Credit |
|---|---|---|
| Lease expense account* | 950.00 | |
| Non-lease component expense account** | 50.00 | |
| Payables account*** | 1,000.00 |
* Define the lease expense account on the Payments tab of Leases.
** Define the non-lease component expense account on the Non Lease Component tab of Leases.
*** Define the Payables account as an accrual code on tab on Invoice Adjustment. The accrual code can also be defined by Payables.