Payment Schedule (LM30.1)

Use Payment Schedule (LM30.1) to set up payment schedules for the main lease payment. Payments created with this form are interfaced to the Lawson Accounts Payable application.

Process at a Glance

Define a lease, using Lease Addition and Adjustments (LM21.1).
(This step) Define a payment schedule using Payment Schedule (LM30.1) and, optionally, More (LM30.4).
Optional. Run the FAS 13 test, using the T (FAS13 Test) form action on LM21.1.
Optional. Define a leased asset, using Leased Asset Quick Addition (AM21.1) or Lease Asset Addition and Adjustments (AM21.2).
Optional. Release the leased asset using AM21.2.
Release the lease, using LM21.1 or Mass Lease Release (LM121).

Processing Effect

If the straight-line flag is selected, when a payment schedule is added or changed, all payments that do not have an executory code are added together. That total is divided by the total number of payments to derive the straight-line amount.

For interfaced payments, the imported straight-line amount serves as the LM30.1 override amount. If left blank, the straight-line amount is blank.

Click the Change button to compute for the straight-line amount.

If a payment is added after the interface process, LM30 will auto-compute unless the LM30.5 straight-line override amount is populated.

For Operating leases, set Straight Line Flag to Yes.

More Information

If you do not define a recurring payment, you must provide at least one payment line, including the payment number, the due date, and the payment amount or compute statement.

If you want to define a recurring payment, do not specify a payment line on this form. Instead, choose the Recurring button to open Recurring Payment (LM30.2). After you have defined a recurring payment, you can use Payment Schedule (LM 30.1) to view each scheduled payment and add non-recurring payments if needed.

If you do not specify an amount on the payment line, you must specify a compute statement. The compute statement must be predefined in the Report Writer application. You can specify both a payment amount and a compute statement. In this case the resulting payment is the sum of both the payment amount and the amount derived from the compute statement.

Note: The Accounts Payable application requires a process level for each invoice. If your company has a default process level, it is used automatically unless you override it. If no default process level exists, you must specify a process level on LM30.5. You will be able to override it for individual invoices on Invoice Adjustment (LM31.1).