Login
Register
Search
Home
Forums
Jobs
LawsonGuru
LawsonGuru Letter
LawsonGuru Blog
Worthwhile Reading
Infor Lawson News Feed
Store
Store FAQs
About
Forums
Financial Management
Lawson S3 Financials
Lease Management - Operating Lease JE Timing
Home
Forums
Jobs
LawsonGuru
LawsonGuru Letter
LawsonGuru Blog
Worthwhile Reading
Infor Lawson News Feed
Store
Store FAQs
About
Who's On?
Membership:
Latest:
Jessica
Past 24 Hours:
2
Prev. 24 Hours:
0
Overall:
5164
People Online:
Visitors:
328
Members:
0
Total:
328
Online Now:
New Topics
Top Forum Posters
Name
Points
Greg Moeller
4184
David Williams
3349
JonA
3288
Kat V
2984
Woozy
1973
Jimmy Chiu
1883
Kwane McNeal
1437
Ragu Raghavan
1348
Roger French
1311
mark.cook
1244
Forums
Unanswered
Active Topics
Most Liked
Most Replies
Search Forums
Search
Advanced Search
Topics
Posts
Prev
Next
Forums
Lawson S3 Financials
Lease Management - Operating Lease JE Timing
Sort:
Oldest First
Most Recent First
You are not authorized to post a reply.
Author
Messages
Bob Canham
Veteran Member
Posts: 217
8/26/2019 5:10 PM
We are working on implementing Lease Management so we can support the new reporting requirements for Long Term Operating Leases. As we're working through testing, we're running up against a block trying to understand when the various journal entries should be hitting our general ledger. I'm hoping someone out here has done this and can point us in the right direction.
The difficulty we're having is due to the payment timing. Most of our leases are due by the 1st of the month and are for the month to come. As such, we need to cut the payment in the month prior (i.e. pay in September for an October 1 due date). What we think should happen is that liability would be reduced in September and the Expense and Accumulated Depreciation would occur in October. However, Lawson's setup appears to always post the lease reduction and expense journal entries in the same month (determined by distribution date on LM131). Because of this, we think that either the expense and accumulated depreciation would be early (distribution date in payment month) or the liability reduction would be late (distribution date in the payment due month).
Hopefully someone has worked through this and can let us know what they did. We seem to be running in circles.
TIA
You are not authorized to post a reply.