You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register
Skip to content
  • Register

    • Quarterly payment frequency but first payment not for full quarter

    edited Feb 4, 2025 10:11AM in Lease Accounting 1 comment

    Summary:

    I have a lease with quarterly payment frequency but the first quarter does not start on the first day, it should be prorated and the last quarter of the lease should also be prorated as it will end before the quarter end. The stubs are calculated incorrectly.

    Content (please ensure you mask any confidential information):

    The lease start date is 9 January 2023

    The lease end date is 8 January 2033

    When I capture the payment, the stub is created incorrectly for the partial first quarter and the second stub for the last quarter is also created incorrecly. I cannot manually override it - it fails with a date validation. It looks like the system is not assuming the correct dates for each quarter. Are there any recommendations on how to correctly capture the partial payment for the 1st quarter and last quarter:

    Tagged:

    Howdy, Stranger!

    Log In

    To view full details, sign in.

    Register

    Don't have an account? Click here to get started!