The following event types are delivered for use with the various chain jobs of Debt Management, but can also be used to manually record leases. Other event types used are in Accounts Receivable.
LS10: Record Capital Lease Receivable - Current Portion - This event type is used with the Debt Accounting (DA) transaction to record the portion of lease principal that will be due from a lessee in the current year. This event type is also used with a negative accounting line to record any residual value adjustment at the end of the lease.
Posting Pair A:
Dr A360: Capital Lease Receivable - Current (A)
Cr A364: Lease Initial Accounting Wash Account (NA)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, manually entered or system generated receivables will reduce the current receivable account.
LS11: Record Capital Lease Receivable – Long Term Portion - This event type is used with the Debt Accounting (DA) transaction to record the portion of lease principal that will be due from a lessee after the current year ends.
Posting Pair A:
Dr A361: Capital Lease Receivable – Long Term (A)
Cr A364: Lease Initial Accounting Wash Account (NA)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, manually entered or system generated entries will occur as a new year starts in the repayment of a lease. These entries will transfer from the long term account to the current account the portion of principal due in a given year.
LS12: Record Deferred Lease Principal Revenue - This event type is used with the Debt Accounting (DA) transaction to record the total amount of principal revenue for a lease as deferred revenue.
Posting Pair A:
Dr A364: Lease Initial Accounting Wash Account (NA)
Cr A362: Deferred Lease Principal Revenue (L)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, periodic receivables generated to the lessee will reduce the deferred principal revenue and record the amount as billed earned revenue with event type LS15 (shown later).
LS13: Record Deferred Lease Interest Revenue - This event type is used with the Debt Accounting (DA) transaction to record the total amount of interest revenue for a lease as deferred revenue..
Posting Pair A:
Dr A364: Lease Initial Accounting Wash Account (NA)
Cr A363: Deferred Lease Interest Revenue (L)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, periodic receivables generated to the lessee will reduce the deferred principal revenue and record the amount as billed earned revenue with event type LS16 (shown later).
LS14: Leased Asset Disposal - This event type is used with the Fixed Asset Disposition (FD) transaction to dispose of an asset that is going to be leased out to a lessee. If the asset is returned, it is then recorded anew at the value of the asset when returned. An alternative is to use the FA29 event type to ‘sale’ or FA06 to ‘transfer’ the asset to a holding account so that it is not reported while leased out. When returned the asset can then be resold or transferred back to the original account and then adjusted (if necessary) to account for any loss in value.P
Posting Pair A: Depr Catch Up
Dr F020: Depreciation Expense (NE)
Cr F040: Accumulated Depreciation (CA)
Posting Pair B: Rvrs Accm Depr
Dr F040: Accumulated Depreciation (CA)
Cr F002: Fixed Asset (A)
Posting Pair C: Back-out Sale
Dr F010: Fixed Asset Offset (E)
Cr F002: Fixed Asset (A)
Posting Pair D: G/L Expense
Dr F002: Fixed Asset (A)
Cr A365: Deferred Lease Revenue (L)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: Referencing accounting activity for this event type is not a likely occurrence.
LS15: Bill Capital Lease Principal Payment - This event type is used with the Receivable (RE) transaction to bill the lessee (customer account) for the amount of principal due on a lease.
Posting Pair A: Principal
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair B: Interest
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair C: Late Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair D: Admin Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair E: NSF Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair F: Other Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair G: Additional
Dr A362: Deferred Lease Principal Revenue (L)
Cr A360: Capital Lease Receivable - Current (A)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: A receivable of this type will have one of four outcomes:
Collection with AR02: Collect Earned Revenue will occur with a Cash Receipt transaction.
After several attempts at collection have failed, the receivable can be sent to an external party for collection. Event type AR05: Refer Earned Receivable to Collection Agency on a Referral to Collection Agency transaction would record such an event unless the receivable was sold to the external party.
When all attempts at collection have failed and the receivable is considered uncollectible. At this point AR03: Write Off Earned Revenue - Direct Method or AR04: Write Off Earned Revenue would be used on a Write Off transaction.
If the receivable was recorded as an intercept request, then either IN10 or IN11 event types for intercepting earned revenue would be used on an Internal Exchange Transaction to close all or a portion of the receivable.
LS16: Bill Capital Lease Interest Payment - This event type is used with the Receivable (RE) transaction to bill the lessee (customer account) for the amount of interest due on a lease when the Include Interest in Initial Accounting indication for a lease debt type (as defined on DEBTTYPE) is set to true. When that indication is false, an event type similar to AR01 should be used because the amount of interest is not to be recorded as a receivable or deferred revenue.
Posting Pair A: Principal
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair B: Interest
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair C: Late Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair D: Admin Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair E: NSF Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair F: Other Fee
Dr R001: Billed Earned Receivable (A)
Cr R002: External Billed Earned Revenue (NR)
Posting Pair G: Additional
Dr A363: Deferred Lease Interest Revenue (L)
Cr A360: Capital Lease Receivable - Current (A)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: A receivable of this type will have one of four outcomes:
Collection with AR02: Collect Earned Revenue will occur with a Cash Receipt transaction.
After several attempts at collection have failed, the receivable can be sent to an external party for collection. Event type AR05: Refer Earned Receivable to Collection Agency on a Referral to Collection Agency transaction would record such an event unless the receivable was sold to the external party.
When all attempts at collection have failed and the receivable is considered uncollectible. At this point AR03: Write Off Earned Revenue - Direct Method or AR04: Write Off Earned Revenue would be used on a Write Off transaction.
If the receivable was recorded as an intercept request, then either IN10 or IN11 event types for intercepting earned revenue would be used on an Internal Exchange Transaction to close all or a portion of the receivable.
LS30: Amortization of Lease Costs - This event type is used with the Debt Accounting (DA) transaction to setup lease costs and for later amortization.
Posting Pair A:
Dr A372: Unamortized Lease Costs (NE)
Cr A373: Accrual Basis Equity Offset – Leases (E)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, the later amortizations of the loan costs will use the same event type with a negative line amount to reduce what was initially recorded.
LS32: Accrue Lease Revenue - This event type is used with the Debt Accounting (DA) transaction to accrue any expense to be paid after the accrual period when the prior expense occurred before the start of that accrual period.
Posting Pair A:
Dr A375: Accrued Lease Revenue Offset (A)
Cr R010: Earned Revenue (NR)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: The same event type is used in the reversal of the accrual in the next period when the schedule detail is Regular Payment.