Portfolio Lease Accounting Help Page Summary

This tutorial page will instruct you on using the Portfolio Lease Accounting feature. For iLeasePro general navigation instructions, please visit the QuickStart General Navigation page.

Using the iLeasePro Portfolio Lease Accounting Feature

Note: The Lease Accounting General Ledger accounts are required to be setup prior to being able to use the iLeasePro Portfolio Lease Accounting feature. See Account Setting - Setting Up Lease Accounting for further information.

Section Help

Every page with Sections offers you additional help for that Section. This help information can be accessed by clicking on the question mark in the Section header bar.

Notes

To add annotations/notes to support the information entered, click on the notepad icon shown above. A new page will be displayed where you can add personalized notes that you would like to make to help you or others in your team identify key dates/reasons, etc for the lease information entered.

Portfolio Accounting

The iLeasePro Portfolio Accounting feature allows you to create amortization schedules and/or journal entries for the lease portfolio or groups within the lease portfolio. Additional information for the Portfolio accounting can be found in the Entering and Maintaining Portfolio Accounting help site.

To create an amortization schedule or batch journal entries for the entire lease portfolio, leave the Operating Subsidiary dropdown option as "All Operating Subsidiaries".

To create an amortization schedule or batch journal entries for a specific Subsidiary, select the Subsidiary Name from the Operating Subsidiary dropdown list as shown below. To further refine your selection, you can also select any group, if groups have been setup by your administrator.

Building Amortization Schedule and Journal Entries

Select the Include Variable Payments checkbox if you would like to include the variable payments that have been scheduled for this time period in the journal entries that will be created

Select one or all of the Accounting Classifications you are interested in building an amortization table or journal entries for

Select Year. From the dropdown list select the year of the month that you want to create a journal entry for.

Select Month. From the dropdown list select the month within the year that you want to create a journal entry for.

These selections will automatically generate the amortization results or journal entries for the Year and Month selected.

Select either Show Journal Entries by Day or Show Amortization by Month

Note: A popup will be displayed at the top of the page indicating that the information is in the process of being built. This may take up to 15 seconds to build depending on the number of leases selected

Show Journal Entries By Day

To create journal entries for a month that can be uploaded or imported into the accounting system of record for these journal entries, the user will select the month and year to create the journal entries for and select the Show Journal Entries by Day radio button.

Uploading a Journal Entry. If an accounting software integration has been established by your administrator, a button will be displayed indicating that a journal entry can be created and uploaded via webservices. In this case we are showing that the user can create and upload the journal entries for February 2021 into the accounting system of record, which is Intacct.

Exporting a Journal Entry. To export the journal entries to an excel spreadsheet, simply click on the Export General Ledger button as shown. Example below;

Show Amortization By Month

iLeasePro calculates the daily ROU Asset and Lease Liability Amortization schedules but consolidates the view to allow for a monthly schedule. To view the monthly amortization schedule select the Month and Year to build and select the Show Amortization By Month radio button.

Show Amortization Schedule or Journal Entries For All Years in Lease Term

To view the monthly amortization schedule for all Years of the leases selected, select the "All Years" option in the Select Year dropdown list. You can also see all the Months in a selected year by selecting the year and then "All Months" in the Select Month dropdown.

Export the Amortization Data for a specific Year and Month. To export the Amortization data to excel spreadsheet for the selected year and month, simply click on the Export Table button as shown.

Export the Amortization Data for the entire Lease Term. To view the Amortization data for the entire lease term, select “All Years” from the Select Year dropdown indicated by the red arrow below. To export the Amortization data to excel spreadsheet, simply click on the Export Table button as shown.

Lease Accounting Document Management

For detailed explanation on uploading an electronic document into iLeasePro, please reference the Upload Document Help Page.

R2022.02.02

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