Defining Payment Schedules
This topic discusses how to add or modify payment schedules for leases.
Before you can add leased assets to your system, you must define at least one payment schedule to indicate when a lease starts and ends. Leases can share the same payment schedule ID.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
LEASE_SCH_ID |
Add or modify payment schedules for leases. |
Use the Payment Schedules page (LEASE_SCH_ID) to add or modify payment schedules for leases.
Navigation:
This example illustrates the fields and controls on the Payment Schedules page. You can find definitions for the fields and controls later on this page.
Complete the information about the begin date, end date, lease term, and payment frequency.
Field or Control |
Description |
|---|---|
Number of Payments Per Year |
Enter a value to determine the number of lease payments for the lease schedule. |
Prorate Lease Expense |
Select to prorate the accounting entries that are generated for lease payments by the depreciation close process (AMDPCLOS) on a monthly basis. The lease payment schedule segregates the principal and interest of each payment and is used by the AMDPCLOS process to generate the payment accounting entries. The prorated amounts are allocated as well according to their respective ChartField distributions. |
End of Month Due Date |
Select to always schedule a payment on the last day of the month. |
Populate |
After completing the fields about the payment schedule, click the Populatebutton to automatically populate the Payment Datecolumn fields. |