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Create Accounting Entries for One Time Payments for New Leases

edited Jul 22, 2021 8:35PM in Assets 3 comments

Summary

Create Accounting Entries for One Time Payments for New Leases

Content

Hi All - We are using the Fixed Assets module for our leased asset accounting. We entered into a bunch of new leases in 2021 and noticed that accounting entries never created and posted to the GL for the One Time Payments we entered. See image below for example. Can someone explain why that is? Currently our lease liability on the GL is overstated as a result since no entries were created when we ran Create Accounting.

Thanks!

 

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