Property Manager - EBS (MOSC)

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quarterly payments

edited Mar 12, 2019 12:18AM in Property Manager - EBS (MOSC) 10 commentsAnswered ✓

Quarterly Payments in Arrears Assume the following scenario:

A (finance) lease which has quarterly payments of $400 and paid in arrears i.e. 4 payments due on 30-Apr-2019, 31-Jul-2019, 31-Oct-2019 and 31-Jan-2020

Our Lease setup:

Lease commencement date : 01-Feb-2019

Lease termination date : 31-Jan-2020

Days convention: 365 days/year

Interest Rate: 5.79%

Payment term start date : 01-Apr-2019

Payment term end date : 31-Jan-2020

Schedule Day: 31

Payment Frequency: Quarterly

After finalising the lease, the ROU Asset and Lease Liability amounts are correctly calculated.

However 4 payment schedules were created as below

30-Apr-2019 for $400

31-Jul-2019 for $400

31-Oct-2019 for $400

31-Jan-2020 for $135.89 (incorrect)

Does Property Manager (Equipment Leases) support payment in arrears for non-monthly frequencies?  If it does then what is wrong with my setup?

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