Lease Asset Proposal and Generation

After creating the lease journal to recognize the right-of-use asset and lease liability, you can create the asset from the Asset Proposal or Manage Asset Proposal page. The Lease record status will be set to Asset Proposed or Asset Created.

If an asset is created from a lease record, the Asset is Leased box on the asset record is automatically checked. The Lease subtab on the Asset Record shows information about the lease and a link to the lease record. For more information about generating an asset from a proposal, see Asset Proposal and Generation.

The information from the lease record carries over to the Lease tab of the asset record. The Lease tab shows the following information:

• Lease record link

• Lease Company

• Lease Contract Number

• Lease start and end dates

• Finance Lease checkbox

• Rental Frequency

• Lease Term

• Annual Interest Rate

General Notices