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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?

    What's the risk of using Spreadsheets?

    Initial Application Date

    What if the Initial Application Date is entered incorrectly?

    What is my Initial Application Date under ASC 842?

    Transition Leases

    Why must the Start Date of the lease be on or after the Initial Application Date?

    Where do I enter balances that existed under the previous standard?

    Should I add my capital leases to LeaseCrunch?

    Will LeaseCrunch adjust my existing lease balances to flow through to the ROU Asset?

    What is a Transition Lease?

    Login

    A user is unable to login to LeaseCrunch

    How to create your LeaseCrunch Account

    A user is unable to login to LeaseCrunch (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?

    How to account for month to month leases?

    How do I know if I have a lease?

    Can subleases be entered into LeaseCrunch?

    How can I determine if I have an embedded lease?

    Lease Term Wizard

    Can LeaseCrunch be used for short-term leases?

    What does it mean when ROU Asset Life is greater than its Lease Term?

    What is the difference between an edit and a revision?

    Why is my lease showing Incomplete status?

    Payments

    How do I handle monthly lease prepayments?

    Can lease and non-lease payment be shown separately?

    How do I handle non-lease payments when I elect to include them with lease payments?

    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

    Bulk Import Best Practices & FAQ

    Troubleshooting Bulk Import Error Logs

    What format do I use to import a large quantity of leases?

    LeaseCrunch Billing

    LeaseCrunch Billing Details

    Recognition

    Present Value Calculations in LeaseCrunch

    Understanding Journal Entries under the New Accounting Guidance (FASB ASC842)

    Why doesn't the cash outlay match the lease expense?

    How do I use the Cash/AP Clearing Account?

    Does LeaseCrunch 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 LeaseCrunch?

    Lease Accounting Best Practices & Reconciliation

    What will my initial journal entry look like?

    Can I combine short term and long term liability?

    When is Equity affected under ASC 842?

    Reports

    Why is my lease liability lower than my payments?

    Cash Flow Statement under ASC 842

    Why does my ASC 842 Footnote disclosure for Cash Flows not equal Cash columns in the Amortization Schedule?

    Can I generate one spreadsheet with all journal entry data, Amortization Schedule and Footnote Data?