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Is it possible for the system to generate journal for deferred interest in Lease assets?

in Assets 1 comment

I would like to know if the system has ability to generate deferred interest for lease asset. For instance, instead of showing accounting entries for lease asset addition as Dr. ROU cost, Cr. Lease Liability, would the system be able to include accounting for deferred interest as well? Kindly view example below.

Lease Asset Additions

Dr. ROU Cost

Dr. Deferred Interest

  Cr. Lease Liability

Lease Interest Expense

Dr. Lease Interest

  Cr. Deferred Interest

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