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Intelligent Payment Automation, powered by BILL (aka Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
For more information, visit this thread.
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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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