Journal Entry Report Mid-life Lease Balances

Purpose 

Journal entry format report that summarizes the required entries for go-live cutover onto NetLease. This report is especially pertinent to leases with commencement dates prior to 1/1/2022. These entries should be coupled with reversing entries of existing lease balances into the same go-live clearing account used when posting the suggested entries.

How To

Navigation:

NetLease > Reports > Journal Entry Reports > Journal Entry Report: Mid-life Lease Balances

Filtering:

The report search can be narrowed down by adjusting the filters for customized segments assigned to the company. Once desired filters are set, click Generate Report and the file is exported to Excel.

Results

The report will generate an Excel workbook that shows each journal entry necessary for leases to transition to ASC 842.