AugForums.com

An Acumatica User Group

  • Free
    • Start Here
    • Rolodex
    • Podcast
    • Blog
    • Forums
  • Paid
    • AugSQL
    • GI Course
    • GI Library
    • Consulting
  • Register
Acumatica Forums

By using this website, you agree to our Terms of Use (click here)

Forums
AUG Forums
Everything Else
Capital Lease Track...
 
Notifications
Clear all

Questions Capital Lease Tracking

 
Everything Else
Last Post by busyfritz 4 years ago
6 Posts
4 Users
2 Reactions
3,089 Views
RSS
Derek Cote
Posts: 12
 Derek Cote
Topic starter
May 11, 2020 10:12 am
(@dcote)
Eminent Member
Joined: 5 years ago

Hi Everyone,

Has anyone found a good solution to tracking Capital Leases in Acumatica? As you may know, a Capital Lease is treated as a financing activity, where payments are made for an asset. As part of that payment, a portion is applied to interest, and the rest is applied to the principle (very similar to long term debt).

The ideal solution is to avoid having an amortization table in excel to determine the payment breakdown for each monthly payment.

Thanks!!

Derek Cote

Topic Tags
debt long term debt capital lease lease fixed assets
5 Replies
Ryan Brown @xByte Hosting
Posts: 84
 Ryan Brown @xByte Hosting
May 13, 2020 8:30 pm
(@ryanxbyte)
Estimable Member
Joined: 5 years ago

I am just theorizing a solution here. You could create the liability for the cost of the item being leased. You then create a generic inquiry that calculates the interest and principal based on the remaining balance. An import scenario could be created against the genetic inquiry to add the bill each month. If you had many of these, you could base your inquiry on the journal entry that created the liability and use part of the description as your interest rate. You could then use that as part of your formula. 

Reply
Tim Rodman
Posts: 3193
 Tim Rodman
Admin
May 30, 2020 12:55 am
(@timrodman)
Famed Member
Joined: 10 years ago

Would this solution help?
https://leasequery.com

I know they were looking at integrating with Acumatica, but I haven't checked-in with them recently.

Reply
Derek Cote
Posts: 12
 Derek Cote
Topic starter
June 25, 2020 10:48 am
(@dcote)
Eminent Member
Joined: 5 years ago

@ryanxbyte thanks for your feedback. This ended up being very close to the solution that we put together. When creating the initial entry in AP, the user would debit the fixed asset clearing account, and credit the capital lease account. The debit to fixed asset clearing sends the transaction to be converted to an asset for depreciation in FA, and the credit to capital lease is captured in a GI that calculates the principle and interest (interest rate and terms are added as UDFs on the AP Bill) based on the remaining balance. Each month, a lease payment is made in AP against that original acquisition, which debits the capital lease account. Ultimately, at the end of the lease, the account balance would be zero.

 

@timrodman - thanks for pointing that solution out, it does seem like a good solution if integrated with Acumatica. Definitely something worth looking into more

Reply
Ryan Brown @xByte Hosting
 Ryan Brown @xByte Hosting
(@ryanxbyte)
Joined: 5 years ago

Estimable Member
Posts: 84
June 25, 2020 12:26 pm
Reply toDerek CoteDerek Cote

@dcote I am had you were able to find a variation that works for you guys!

Reply
Tim Rodman reacted
busyfritz
 busyfritz
(@busyfritz)
Joined: 5 years ago

Eminent Member
Posts: 16
July 21, 2021 11:17 am
Reply toDerek CoteDerek Cote

@dcote

We are needing to do the exact same type of transaction. Would you be able to share the GI used for this?

Reply
Tim Rodman reacted
Forum Jump:
  Previous Topic
Next Topic  
Topic Tags:  debt (1) , long term debt (1) , capital lease (1) , lease (2) , fixed assets (2) ,
Forum Information
Recent Posts
Unread Posts
Tags
  • 12 Forums
  • 2,521 Topics
  • 10.9 K Posts
  • 18 Online
  • 2,321 Members
Our newest member: Courtney Wilder
Latest Post: Can UDFs be populated using an Import Scenario?
Forum Icons: Forum contains no unread posts Forum contains unread posts
Topic Icons: Not Replied Replied Active Hot Sticky Unapproved Solved Private Closed

Online Members

 No online members at the moment

Acumatica Forums

Terms of Use & Disclaimers :: Privacy Policy

Copyright © 2025 · AUG Forums, LLC. All rights reserved. This website is not owned, affiliated with, or endorsed by Acumatica, Inc.

‹›×

    ‹›×