FAM Lease Accounting Prerequisites

The following prerequisites lets you use the Lease Accounting feature in the Fixed Assets Management SuiteApp:

• To ensure that you have access to the Lease record, enable the Custom Transactions feature. Go to Setup > Company > Enable Features > SuiteCloud and check Custom Transactions.

• Set up an asset type for your lease asset and specify whether it is an operating lease type or a finance lease type:

  • Finance Lease - If you're setting up an asset type for a finance lease, clear the Operating Lease box on the Asset Type record.

  • Operating Lease - If the asset type is for assets generated from an operating lease, check the Operating Lease box.

  For more information about setting up an asset type, see FAM Asset Types.

• Set additional permissions required for Lease Accounting. For more information, see Setting up Permissions for Lease Accounting.

• Create new general ledger accounts and set them to the Lease record. For more information, see Setting Up General Ledger Accounts for Lease Accounting.

General Notices