Accounting Workbook - Product Advisory

January 2020

LeaseAccelerator has overhauled the Accounting Workbook. The Accounting Workbook is the LeaseAccelerator amortization schedule showing a schedule’s accounting activity in all accounts throughout the life of the lease. The summary page highlights various key attributes associated with the schedule. The detail page provides the amortization schedule showing each fiscal period’s activity within each account.  For each account, the report shows the beginning and ending balance as well as the transactions incurred each period grouped into major drivers such as additions, payments, reclass/reversals, etc. The report is generally run for a new schedule or a major event change to an existing schedule.  

Any previous customer-specific links or report scheduling will need to be recreated using the updated version of the report.

This report can be run in Transactional Currency Only for a single Schedule Only. The output should align to the Ledger Export when run with the same AsAt Date and same time frame. 

Note: Year-End reversing entries for income statement accounts are not on the Ledger Export but are currently included on this report. These columns will be removed in a future release.

Report Parameters

As At Date - Determines the accounting entries included in the output.

Starting Fiscal Year/Starting Period - The combination of these fields determines the balances and activity to be included in the report.  

Non-monthly Starting Period parameters have been removed from the drop-down menu. In addition, errors have been discovered when the report is run for a mid-lease-life starting period. This will be corrected in a future release.  Until then, it is recommended to run the report from the beginning of the lease life.

# of Months to Show Entries – Number of months from the starting Fiscal Period selection to which activity will be included 

Schedule # - Report can be only be run for a single schedule.

Set of Books - Ledger selection

Report Section – Selection to restrict output to accounts defined as either Adjustments, Assets, Equity, Expenses, Income, or Liabilities.  When a selection is made to which no accounts are associated with for the specific schedule, the Accounting tab will be blank.

Report Subsection – Selection to restrict output to specific accounts.  The drop-down menu does not restrict options to only accounts available to the specific schedule.  If an account is selected that does not have entries for the schedule, the Accounting tab will be blank.

Report Output

The output as an Excel exported file consists of workbook with several tabs including Overview, Accounting, Suffix Description and Parameters.

Overview – Summarizes schedule level information regarding the schedule selected in the report parameters.  It includes the IBR used at lease commencement as well as the IBR in effect at the report AsAt date.  This sheet also includes a summation of the initial liability balance, ROU Asset balance and other pertinent information.  The bottom of the summary sheet includes the asset information for the selected schedule. 

Accounting – Lists the Lease Periods, Fiscal Month Number, Fiscal Month End Date and the associated account balances and activity for each period. The columns on this sheet are determined by the posting codes included on the ledger export. The columns are grouped by identifiers in brackets [ ] at the end of the column headers. Each separate grouping includes a Beginning Balance, various activity columns and an Ending Balance column.

Suffix Description – This is key to the identifiers in the brackets used on the Accounting sheet

Parameter – Provides a snapshot of the parameters used to run the report

Note: There is a blank line between the column headers and data on the Accounting sheet of the report.  This is necessary for coding but can be deleted by the user after export to allow for additional filtering/pivot tables creation.