Property Manager - EBS (MOSC)

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Leases mid-way through a Renewal Term

edited Jan 20, 2019 4:02AM in Property Manager - EBS (MOSC) 1 commentAnswered

For ASC 842, we are not seeing proper calculation of leases that are in a renewal period.  These leases have an Amended Commencement Date, and the calculations of the ROU Asset and Liability should be starting at the Amended Commencement Date, but we are seeing the calculation beginning in the month that the Calculate ROU Asset/Liability program is run.  This is incorrect, as it is cutting off the cash flows from the months prior to the program being run.  The report from inception flags are un-checked.

Could someone please confirm how the system looks at leases that are in an amended term at adoption?

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