If you have made a mistake on the leasing schedule, for example you accidentally selected a monthly schedule instead of a yearly schedule, you will either need to delete the lease (or reverse the lease entered event) and re-enter the details or, alternatively, you could perform a refinance on the lease on the first day and it will recalculate all the necessary correcting entries for you.


Depending on the output you require, you have two options if you refinance. Either at the start or the end of the day you nominate.





If you are experiencing difficulty reconciling or matching your IRFS 16 or ASC 842 audited numbers for leased assets, the first place to check is the interest rate treatment used. AssetAccountant has both nominal and effective interest rate options available which will affect your data depending on what your desired accounting treatment is required.