Description of Issue

Can leasing information for capital assets be tracked for GASB 87 requirements?

Context

Fixed/Capital Assets

Cause

Resolution

Munis does not provide an automated mechanism for tracking of leases, lease amortization schedules, or scheduled lease payments

Additional Information

Recommendations for tracking on your own:

During the initiation of the lease, post a general journal entry
Asset can be recorded in the Capital Assets module and amortized
After initiation of lease, lease payments can be made from Accounts Payable for the lessee or from General Billing for the lessor
At year end, amortize asset
Lease accounting can be sent to the CAFR Statement Builder

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