Lease Month End

In this report you can see the liability and asset values per month end. You can also re-evaluate your liabilities if those are nominated in different currencies, book the accrued interest (if needed), and see the monthly depreciation.

Click on Reporting > Lease Month End

Update all fields that are relevant to your report.

1) Entity is the company that is doing the reporting. (New Companies can be created under Settings > Companies).

2) The Counterparty is the Lessor. (New Companies can be created under Settings > Companies and ticking counter party).

3) The Lease type is which asset group the lease belongs to. (New types can be created under Leasing > Lease types).

4) The Cost center helps to categorise your data in reports. (New Cost centers can be created under Settings > Cost center).

3) The Portfolio helps to categorise your data in reports. (New portfolios can be created under Settings > Portfolios).

6) Select Currency from the drop down menu.

By leaving Currency blank (Select(Optional)) the report will run from the lessee company point of view and will assume their home currency. If a currency is selected, all columns 'in base currency' will be converted to the currency selected.

All currency exchanges are made at the exchange rate on the month end. If the month end is not yet available, choose the most recently available rate*.

7) Select the Report date from the calendar.

8) Lease Id (Optional) is used to filter the results. If you only need information related to one particular lease, enter the lease ID here. The lease number is automatically assigned, to see a list of all leases with their lease IDs click Leasing > Register (called Trade ID)

9) Report Name (Optional) is used to identify the report. You will see it listed in the report library as Custom Report Name:

10) Click Show to view the Lease Change Report. Click Save to save the report, and an email with a zip file will be sent to your email. Click Back to abandon your changes.

Use these buttons so Copy to clipboard, download as a CSV, an Excel file or a PDF; or click to Print.

Values column by column. And also posting examples if you are using the report to make postings.

Short-term Liability amount in currency will show the part of your liability that is due within a year, in the agreement's currency.

Short-term Liability amount in base currency will show the converted short term liability, in the Entity's base currency.

Long-term Liability amount in currency will show the liability that is remaining after the first year, in the agreement's currency.

Long-term Liability amount in base currency will show the converted long term liability, in Entity's base currency.

*Enter Short-term and long-term values in the base currency if you need to split your liabilities between short and long term.

Total liability in currency will show the total liability in the agreement's currency.

Total liability in base currency will show the total liability in the Entity's base currency. Converted using the end of month fx-rate or whatever is the latest if the month end date is in the future.

Currency valuation to liability

Negative value (loss to P&L)

Debit = UnRealised FX difference on leases

Credit = Lease liability in Balance Sheet

Positive value (gain to P&L)

Debit = Lease liability in Balance Sheet

Credit = UnRealised FX difference on leases

Here we calculate the difference between the liability amount in base currency, that was posted to the balance sheet initially, and the liability in base currency using the month end fx-rate.

Nb! If you run the report with a currency selected in selection criterias, this column will not bring any reasonable values.

Accrued interest in currency:

If you have leases where the payment term is something other than 12 payments per year, the system will calculate accrued interest to help you have evenly distributed interest cost in your income statement. In this column, you will have the accrued interest in the agreement’s currency.

Accrued interest in base currency will show the Accrued interest in currency converted to the Entity's base currency using the month end rate or the latest rate available.

Debit = Interest cost in P&L

Credit = Accrued expenses in Balance Sheet

If you have only monthly paid leases, or you don’t want to report the accrued interest, just ignore this.

*Remember to reverse currency valuation and accrued interest booking in the beginning of the next month!

Right-of-Use Asset amount in base currency will show the RoU Assets balance sheet per month end. You should not apply currency valuation to assets because the asset value represents the balance sheet value in the Entity's base currency.

Right-of-Use Asset amount in selected currency:

If you want to look at the asset value in another currency (i.e. groups consolidation currency) you can run the report with a selected currency. The RoU Asset will be converted to the select currency using the month end rate or the latest rate available.

Depreciation to Right-of-Use Asset in base currency will show the monthly depreciation for the RoU Asset. You should not apply currency valuation to depreciation because the depreciation value represents the value in the Entity's base currency.

Debit = Depreciation in P&L

Credit = Right-of-Use Asset in Balance Sheet

Depreciation to Right-of-Use Asset in selected currency:

If you want to look at the monthly depreciation in another currency (ie groups consolidation currency), you can run the report with a selected currency. The Depreciation will be converted to the select currency using the month end rate or the latest rate available.