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Challenges with Partial Lease Payment Option 'In Advance'

Received Response
in Assets 4 comments


When we try to setup asset leases with payment option 'In Advance' the lease can't be setup the way actual lease amortization schedule given by lessor. We are facing the following challenges :

1) Partial lease payment due to signing of the lease, includes interest for remaining month. But if its entered as one time 'Advance lease payment' it doesn't calculate the interest portion.

2) If lease is signed in the middle of the month, we can't configure Periodic Lease payment to begin from 1st of following month. (i.e. if lease is signed on 07/27/22, periodic payment can't start from 08/01/2022. System forces to use date beyond 08/26/22)

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