How do the balances in Reserve Account clear out? — Cloud Customer Connect
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How do the balances in Reserve Account clear out?

edited Dec 19, 2024 5:20PM in Lease Accounting 1 comment

Summary: Hello, we are wondering how the balance in Reserve Account clear out?


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We are showing a balance carried over since we went live with Lease Accounting and trying to determine how or when this account clears out. There are a few leases where we do not import invoice from LAC to Payables but are sent manually. Will this cause the Reserve not to clear automatically at some point? Do we need to determine what is making the balance and make a manual journal entry to clear out. If so what accounts should it hit to clear the RESERVE account balance?

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