Page Comparison

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1. Open the Finance Leasing Scheduled Payments Entry window. Go to Transactions > Equipment > Finance Lease Entry.
2. The next schedule number will auto-populate.
3. Enter a description (optional).
4. Select or enter the original document number. In the original document lookup window, the default display is set to show all posted and unposted documents. You can select to display only sales order invoices (unposted), posted documents, or all.
5. Verify the date in the Schedule Document Date field. The default entry comes from the original invoice and is the General Ledger posting date.
6. Enter the schedule amount. The default entry in this field is the total schedule amount, and it is equal to the amount remaining on the original invoice.

7. Mark either compound or simple interest.  

   Note

   Simple interest is calculated from the first payment rather than the schedule date. If a payment schedule is created from an existing invoice, the interest is calculated from the date of the original invoice.

8. Enter the rate in the Schedule Interest Rate field. The default value is 0.0000%.
9. Enter the number of payments for the schedule.
10. Enter or select the payment frequency. This field is used to define how often payments will be made.
11. The calculated payment amount will auto-populate after you select Calculate.
12. Select the First Invoice Document Date and the First Invoice Due Date.
13. Enter the final invoice value. The amount entered is the amount displayed on the final invoice the customer receives. This amount is not included in the interest calculation.
14. Verify and enter the accounts for the schedule. The default entries are from the original document.
15. Select the Calculate button to create the payment amounts and an amortization schedule. To view the amortization schedule, select the Amortization button.
16. Select from the following buttons to complete the schedule:
    • Release - Allows you to create lease payments without posting the schedule. The originating document can be posted or unposted, however, a credit memo for the original document amount is not created until you process the schedule.
    • Process - Posts the schedule. The originating document must be posted.
    • Save - Saves the schedule.

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