If you have a number of leases that you have either refinanced (asset finance leases) or require modifications (right-of-use assets) then you can do this in bulk in AssetAccountant.
To prepare for this, you will need a spreadsheet with the data required for each of the leases that you need to change the data for. There is a template available for download but the fields required are as follows:
- Name
- Asset Code / ID
- Refinance Date
- First Payment Date
- Payment Amount
- Payment Frequency
- No. of Payments
- Lease End Date
- Interest Rate / Internal Borrowing Rate (right-of-use only)
- Amount Financed (asset finance only)
Once you have this prepared, navigate to the "Bulk Actions" menu item on the left hand side of the screen and then choose Bulk Lease Refinance:
This will prompt you to upload the relevant data file. Upload the spreadsheet you have prepared.
If there are multiple tabs in the workbook, you will be asked to select the correct one to use for the import and then you will be asked to indicate the header row for the data:
You will then be guided through a wizard to make sure you have the data mapped to the correct columns. When you get to the area that says "Adjust for accounts" this should be used in the case of right-of-use assets where the adjustment to the lease is balanced with an adjustment to the right-of-use asset.
Finally, you can confirm the mappings for the lease information and then the new payment data:
After you have processed the bulk refinance, you will see a message telling you which leases have been updated successfully and will be able to download any failed rows to fix the data and re-upload those.