Lease Accounting FAQs
Find answers to common questions about using Crunchafi Lease Accounting
Leases
- Why is the start date, end date, term, and/or classification grayed out?
- What if I need to change the discount rate on a lease?
- What if the Initial Application Date is entered incorrectly?
- How does a change in discount rate affect the ROU Asset and Lease liability?
- What is the start date of my revision?
- Can subleases be recorded?
- Does Crunchafi handle calculations for GASB 96?
- When should leases be deleted?
- What does it mean when ROU Asset Life is greater than the Lease Term?
- Can Crunchafi be used for short-term leases?
- Why is my lease showing Incomplete status?
- Crunchafi Artificial Intelligence FAQs
- When should a lease be cloned?
- What is the difference between an edit and a revision?
- Where should the Security Deposit be posted?
Transition Leases
Payments
Currency
Recognition
- Are Leasehold Improvements (Tis) considered lease incentives?
- How do I use the Cash/AP Clearing Account?
- What are the options for handling 13-period accounting?
- Can I combine short-term and long-term liability?
- Why doesn't the cash outlay match the lease expense?
- Does Crunchafi handle the monthly reclass between short-term liability and long-term liability?
- What will my initial journal entry look like?