Creating financed purchased leases with asset classifications

  1. Create a GASB87 lease and specify the details.
    See the details of lease creation in Creating a lease.
  2. In the Main tab, select the Ownership option.
    Note: If the Ownership flag is selected, the status of the Asset or Assets on the Lease are changed to Purchased and are included in the Lessee purchased assets.
  3. Specify the details for the Payment tab and the Payment Schedule tab.
  4. Click Save.
  5. In the Asset tab, create a leased asset.
  6. Verify that the classification is purchased.
  7. Click Save and release the asset.
  8. Verify on the lease that the asset is classified as purchased.