Applying different interest rates across the payment schedule for lease assets
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Currently you cannot apply different interest rates across the payment schedule for lease assets. This means that you cannot accommodate changes in interest rates in line with the Consumer Price Index. This is a hypothetical scenario for a Leased Asset with a variable interest rate;
Recurring Payment Type | Payment Date | Interest Due Date | Amount | Interest Rate | No of Payments |
Periodic Lease Payment | 31-Jan-2020 | 31-Jan-2020 | 10000 | 1.8% | 12 |
Periodic Lease Payment | 31-Jan-2021 | 31-Jan-2021 | 10000 | 1.9% | 12 |
Periodic Lease Payment | 31-Jan-2022 | 31-Jan-2022 | 10000 | 2.0% | 12 |
Periodic Lease Payment | 31-Jan-2023 | 31-Jan-2023 | 10000 | 2.1% | 12 |
Periodic Lease Payment | 31-Jan-2024 | 31-Jan-2024 | 10000 | 2.2% | 12 |
Has anyone got any suggestions on how to achieve this? The UI only allows for one interest rate across the Lease Payment Schedule.
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