1. Accounting
  2. Fixed Assets Management
  3. Fixed Assets Lease Accounting
  4. Adding Lease Payments

Adding Lease Payments

You can add your lease payments through the Lease Amortization Schedule subtab or through CSV import. From the Lease Amortization subtab, you can enter lease payments one at a time on the Payment sublist. You can also enter up to 120 payments at one time using the Generate Payments button.

To add lease payments through the Lease Amortization Schedule subtab:

  1. Go to Fixed Assets > Leases > Lease > New.

  2. On the Lease page, click Edit next to Lease record for which you want to add a lease payment.

    Note:

    You can enter lease payments upon creation of a lease record. If you have an existing lease record without lease payments or incomplete lease payments, you can enter the payments one at a time.

  3. Click the Lease Amortization Schedule subtab on the Lease record:

    • To enter multiple payments at one time:

      1. In the Start Date field, enter the start date for the payments that will be generated.

      2. In the Amount field, enter the fixed amount for the payments that will be generated.

      3. Click Generate Payments.

        The Generate Payments button is available when you create a new lease or when you enter lease payments on modified lease records.

        Note:

        The system generates only up to 120 payments at a time. To add payments beyond this limit, you can enter them through CSV import. For more information, see Adding or Updating Lease Payments through CSV Import.

    • To enter lease payments one at a time:

      1. In the Date column, enter the lease payment date.

      2. In the Amount column, enter the lease payment amount.

      3. Click Add.

    Note:

    If the first lease payment date falls on or before the 15th of the month, no interest will be computed. and the principal amount will be equal to the lease payment amount.

  4. Click Save.

    The net present value, balance, interest, and principal will be computed when the lease payment is saved.

Adding or Updating Lease Payments through CSV Import

You can add or update lease payments to add the interest journals through CSV import. To do so, you must perform the following steps:

Important:

If you created a lease record through lease migration, you must update lease payments first before you can finalize the migration.

Lease Payment Import Guidelines

Before importing your lease payments, take note of the following import guidelines:

  • A Lease record must be created first, before you can add lease payments through CSV import.

  • Make sure your CSV file contains the following columns: Lease Payments, Date, Lease.

  • When you are entering your data to the CSV file, make sure that you use the Internal ID of the lease record in the Lease column.

  • The Lease Payment Date should be unique and should fall within the lease start and end dates.

  • Lease Payments should not be a negative value.

  • Amortization schedules will not be created automatically when lease payments are imported.

Creating a Saved Search for the Lease Payments

To create a saved search for lease payments:

  1. Go to Transactions > Management > Saved Searches > New.

  2. On the New Saved Searches page, click Lease Payments.

  3. On the Saved Lease Payments Search page, enter a title for your saved search.

  4. On the Criteria subtab, select Leases as a filter.

  5. On the popup window that appears, click the lease record that you have migrated, and then click Set.

  6. On the Results subtab, under the Columns subtab, remove the Script ID field, and then add the following:

    • Internal ID

    • Leases

    • Date

  7. Click Save & Run.

  8. Click the Export – CSV icon to export your search to a CSV file.

Adding Interest Journals to the CSV File

To add the interest journals to the CSV file:

  1. On your computer, open the CSV file of the lease payments saved search.

  2. Add a Journal column next to the Date column.

  3. In the Journal column, enter the Journal ID that correspond to the date of the lease payments on the CSV file.

    Note:

    You must add journal IDs only up to the date where you have an interest journal generated.

  4. Save the file as CSV.

Importing Lease Payments

Important:

To ensure that FAM bundle scripts are running on records created using CSV import, you must enable Run Server SuiteScript and Trigger Workflows (Setup > Import/Export > CSV Import Preferences).

To import lease payments:

  1. Go to Setup > Import/Export > Import CSV Records.

  2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:

    1. From the Import Type list, select Custom Records.

    2. From the Record Type list, select Lease Payments.

    3. Select the lease payments CSV file.

    4. Click Next.

  3. In the Import Assistant Step 2 – Import Options screen:

    1. Set Data Handling to any of the following:

      • Add — If you are adding lease payments for a new lease asset.

      • Update — If you are updating lease payments for an existing lease asset.

    2. Click Next.

  4. On the Import Assistant Step 3 – Field Mapping screen:

    1. Map the fields in your CSV file to the following NetSuite fields:

      Field mapping for importing lease payments

    2. Click the pencil icon next to Journal to show the Default Value or Reference Type popup.

    3. In the Choose Reference Type dropdown, select Internal ID, and then click Done.

    4. When you are finished, review the CSV and NetSuite fields to verify that all desired fields are mapped, and then click Next.

  5. On the Import Assistant Step 5 – Save Mapping and Start Import screen:

    1. Enter an Import Map Name and Description.

    2. Click Save & Run.

General Notices