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Creating a Lease without generating Payables Invoices

Received Response
edited Mar 31, 2020 3:25PM in Assets 5 comments


What are the best practices?


When creating Leases in Fixed Assets, we are selecting Generate Invoices = No

This is because the Lessor sends us VAT invoices. In Payables, the Lease invoice is accounted as DR: Lease Clearing

What are some of the implications that other clients have experienced with this? I can think of the following;

  • Broken link between Lease in Fixed Assets and Payables invoice
  • Additional reconciliation of the Lease Clearing Account
  • Lease invoices don't arrive on time, creating a need to accrue for the cost 

Any other issues clients have come across in this space?



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