Journal Entry Report LTST Reclass

Purpose 

Journal entry format report that summarizes long and short-term portions of the lease liability. Netgain recommends posting a reversing entry to reclass the current portion of the lease liability into a current liability account.

How To

Navigation:

NetLease > Reports > Journal Entry Reports > Journal Entry Report: LT/ST Reclass

Filtering:

The report search can be narrowed down by adjusting the filters for customized segments assigned to the company as well as dates. 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 all journal entries necessary to reclassify the short-term portion of the lease liability for each lease. The short-term portion represents the next 12 months of liability balance from the end date of the date filter when generating the report. Expand rows to view the detailed journal entries for each lease.