Financial - JDE1 (MOSC)

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Lease Accounting: Transitioned leases - End of Month balance sheet journals appear incorrect

edited Jul 1, 2020 5:08AM in Financial - JDE1 (MOSC) 1 commentAnswered

Hi -

I have an Operating Lease with Payment In Arrears  and Rent Step payments that I have transitioned it into E1.

When I run R15180 for End of Month Balance Sheet journals, the Journal entry appears incorrect. 

For example:

Lease Liability  Debit 100.00

Lease Expense Debit 5.00

Accumulated Amort Credit 15.00

Can someone explain why there is an amount against the lease expense?

Do you have any knowledge documents on transitioned leases?

Thank you

Sheryl-W

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