Finance lease contracts and sections table

You may use a particular contract type for finance leases, or you may have finance leases set up on one or more contract types that are also used for operating leases. The Finance Lease Contracts and Sections table is used to define the contract types and their sections that correspond to the monthly amount to be paid on the finance lease. They must be defined here before you can create the finance lease schedule. This table will be used for reconciliation of contract billing to finance lease monthly posting entries.

Sections are the individual contract sections, not the rolled up section that is used on the contract billing invoice.

1. At the Asset Management main menu, select Finance | Finance Lease Accounting | Administration | Finance Lease Contracts and Section. The Finance Lease Contract Sections display screen appears.
2. Click Add . The Select Contract Type for Finance Lease Accounting screen appears.
3. Right-click on a contract type to be used for finance lease accounting and select Select. The Select Sections for Contract Type - Finance Lease Accounting Reconciliation display screen appears.
4. Right-click on a section to be included and select Select. An asterisk will appear in front of the section to indicate that it is included.
5. When all selections have been made, click Exit to return to the Finance Lease Contract Sections display screen, where the new contract type and its selected sections will appear.

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