Other procedures related to lease addition
Note: You must add the lease before you can associate it with assets,
attributes, or a payment schedule.
From LM21.1, you can also initiate these tasks:
| Action | Process |
|---|---|
| Ignore the FAS 13 test | Click the Overrides button to access Overrides (LM22.2) and specify a classification of O (Operating) or C (Finance). You can also specify a deferred rent amount. |
| Attach leased assets to the lease | Click the Assets button to open Leased
Asset Quick Addition (AM21.1) or Leased Asset
Addition and Adjustment (AM21.2). Leased asset creation
Note: This is a required procedure for finance leases. You can
also use it to keep an inventory of operating leases in the Asset Management
application.
|
| Attach Matrix attributes to the lease for additional reporting capabilities | Click the Attributes button to open Attributes (LM23.1). Using Attribute Matrix attributes |
| Attach a payment schedule to a lease | Click the Payment Schedule button to open Lease Payments (LM30.1). Creating a payment schedule
Note: This is a required setup procedure.
|