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Check out this thread to learn more!
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Don’t miss your chance to meet our SuiteGurus—NetSuite Support professionals and subject matter experts with extensive experience in select product areas, including OneWorld, Advanced & Basic Accounting, Supply Chain Management, Receivables & Payables, CRM, Account Administration, and the SuiteCloud Platform. Full Conference attendees can prebook exclusive 30-minute one-on-one sessions for your product questions.
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Why is the residual value on an operating lease type asset the negative total interest ?
I have set up an Operating lease and right of use asset in my sandbox.
For the right of use asset the residual value is the negative total interest.
The PV of my lease payments is $3,938,963.88/60 (life of lease)= $65649.39
However my right of use asset depreciation schedule has:
$71,142.71 X60 = $4,268,562.60
The difference is the total interest on the operating lease, $329,598.60
I have been asked by our financial statement auditors why the amortization of the right of use asset is not the straight line of the PV of the lease payments.
The research I have found in netsuite confirms the residual value of the right of use asset is the negative total interest:
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