The ‘Lease Payments’ report displays all lease payments during the selected report period. In this report, we also display how your fixed asset part of the payment is split between interest cost and repayment of loan.
Click on Reporting > Lease Payments
Update all fields that are relevant to your report. All mandatory files will be in essentials area.
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, then all columns 'in base currency' will be converted to the currency selected.
All currency exchanges made at the exchange rate on the payment day*.
7) Select the report Start date from the calendar.
8) Select the report End Date from the calendar.
9) Lease ID (Optional) is used to filter the results. If you only need information relating 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)
10) Report Name (Optional) is used to identify the report. You will see it listed in the report library as Custom Report Name:
11) 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.
Total Lease Payment in currency will show the total lease payment, in the agreement's currency.
Total Lease Payment in base currency is the converted total payment, in the Entity's base currency.
Fixed asset amount in currency is the payment that is related to the actual asset, in the agreement’s currency.
Fixed asset amount in base currency is the converted fixed asset payment, in the Entity's base currency.
Service Cost in lease in currency: If you have maintenance or services included in your lease agreement you will see them here.
Service Cost in lease in base currency is the converted service cost payment, in the Entity´s base currency.
In these last four columns we just split the fixed asset amount between repayment of your liability and interest cost.
Repayment of a loan in currency is the repayment of your lease liability, in the agreement's currency.
Repayment of a loan in base currency is the converted repayment, in the Entity´s base currency.
Debit = Lease liability in Balance Sheet
Credit = Lease cost in P&L
Realised FX difference is the difference when calculating the repayment with original liability fx rate and payment day rate.
Negative value (loss to P&L)
Debit = Realised FX difference on leases
Credit = Lease liability in Balance Sheet
Positive value (gain to P&L)
Debit = Lease liability in Balance Sheet
Credit = Realised FX difference on leases
Interest cost in currency is the amount of interest paid from the fixed payment.
Interest cost in base currency is the converted interest amount, in the Entity's base currency.
Debit = Interest cost in P&L
Credit = Lease cost in P&L
Note: If you have a lease where you have some free payments (e.g you have a lease with 12 payments per year, but you don’t have to pay December payment), you need to book the negative amount in Repayment of loan in the base currency column from Interest cost account (not Lease liability in Balance Sheet).
All currency exchanges are made at the exchange rate on the payment day.