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    All FAQ Articles

    This section includes a list of Frequently Asked Questions from our users about leases, payments, financial statement recognition and more.

    What will Financial Statements look like under ASC 842?

    Initial Application Date

    What is my Initial Application Date under ASC 842?
    What if the Initial Application Date is entered incorrectly?

    Transition Leases

    What is a Transition Lease?
    Where do I enter balances that existed under the previous standard?
    Why must the Start Date of the lease be on or after the Initial Application Date?
    Should I add my capital leases to Crunchafi Lease Accounting?
    Will Crunchafi adjust my existing lease balances to flow through to the ROU Asset?

    Login

    A user is unable to login to Crunchafi Lease Accounting software
    How to create your Crunchafi Lease Accounting User Account
    A user is unable to login to Crunchafi - Lease Accounting software (SSO)

    Leases

    What happens if I need to change the discount rate on a lease?
    How does a change in discount rate affect the ROU Asset and Lease Liability?
    Removing or Restoring a Lease
    When Should Leases be Deleted?
    When Should I Clone a lease?
    Why is the start date, end date, term or classification grayed out?
    What does it mean when ROU Asset Life is greater than its Lease Term?
    How can I determine if I have an embedded lease?
    How do I know if I have a lease?
    How to account for month-to-month leases?
    Can subleases be entered into Crunchafi's Lease Accounting software?
    Lease Term Wizard
    Why is my lease showing Incomplete status?
    Can Crunchafi Lease Accounting be used for short-term leases?
    What is the difference between an edit and a revision?
    Crunchafi Lease Accounting Artificial Intelligence FAQs

    Payments

    How do I handle monthly lease prepayments?
    How do I handle non-lease payments when I elect to include them with lease payments?
    Can lease and non-lease payments be shown separately?
    Why is the first payment missing from the Lease Liability?

    Currency

    What is the purpose of the foreign currency effect column on the Amortization Schedule?

    Bulk Import

    What format do I use to import a large quantity of leases?
    Bulk Import Best Practices & FAQ
    Troubleshooting Bulk Import Error Logs

    Crunchafi Lease Accounting Billing

    Crunchafi Billing Details

    Recognition

    Present Value Calculations in Crunchafi Lease Accounting
    Why doesn't the cash outlay match the lease expense?
    How do I use the Cash/AP Clearing Account?
    Does the Lease Accounting software handle the monthly reclass between Short Term Liability and Long Term Liability?
    Are Leasehold Improvements (TI's) Considered Lease Incentives?
    What are the options for handling 13 period accounting in Lease Accounting software?
    Can I combine short term and long term liability?
    Lease Accounting Best Practices & Reconciliation
    When is Equity affected under ASC 842?
    What will my initial journal entry look like?

    Reports

    Why is my lease liability lower than my payments?
    Why does my ASC 842 Footnote disclosure for Cash Flows not equal Cash columns in the Amortization Schedule?
    Cash Flow Statement under ASC 842
    Can I generate one spreadsheet with all journal entry data, Amortization Schedule and Footnote Data?
    Understanding Journal Entries for Lessees under ASC 842
    Understanding the Footnote Disclosure for Lessees under ASC 842
    Understanding the Footnote Disclosure for Lessors under ASC 842
    Understanding the Amortization Schedule for Lessees under ASC 842
    Understanding the Amortization Schedule for Lessors under ASC 842