Register lease transaction type

In this section, you can register lease transaction type.  On finance lease, you can set up Journal entry type, transfer of ownership clause and/or bargain purchase option. 
 →  To Operation Procedure

Screen Transition

[Leased Assets Module]
  ↓
[Register]
  ↓
[Register lease transaction type]
  ↓
[Register lease transaction type] screen

Item Setup

List (Left side on the screen)

• Code
• Name

[Details]

• Code
• Active
• Term of validity
• Name 1, 2
• Searching
• Extension flag
• Type
  Select "Operating lease" or "Finance lease." 
• Journal entry type
  When "Operating lease" is selected in "Type," "Off-balance" will be selected.  No modification can be made. 
  When "Finance lease" is selected in "Type," select "On-balance" or "Off-balance." 
  When "On-balance" is selected:
  It is handled as "trading process" on accounting, allowing you to enter journal of property acquisition by executing journal at lease property entry. 
  Moreover, due to the interlocking with [Fixed Assets Module], you can manage properties and register/execute depreciation information. 
  When "Off-balance" is selected:
  It is handled as "lease process" on accounting, not allowing you to execute journal at lease property entry. 
• Remaining value guarantee
  Specify whether your company guarantees remaining value.  It is not only the case that your company guarantees remaining value to a leasing company, but also when you guarantee lease property value to a remaining value guarantee firm.  Select "yes" or "No." 
  When "Yes" is selected on remaining value guarantee, you can enter an amount of remaining value guarantee at lease contract entry.  
• Transfer of ownership clause
  It is displayed only when "Finance lease" is selected in "Type."  Select "yes" or "No."  When the transfer of ownership clause is included in the contract of finance lease, select "Yes."  
• Bargain purchase option
  It is displayed only when "Finance lease" is selected in "Type."  Select "yes" or "No.  When a bargain purchase option is granted after the termination of lease period so that the option should probably be executed, select "Yes."  When "Yes" is selected, you can enter an amount of bargain purchase value at lease contract entry.  

[Buttons]

• Name1/2
• New
  Click the button when you newly register lease transaction type.  
• Save
• Clear
• Delete
• Print
• Exit