What if I need to change the discount rate on a lease?
We recommend only using the revision workflow in Crunchafi Lease Accounting to apply discount rate changes.
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Changing the discount rate after journal entries have been recorded is not recommended.
Avoid editing the discount rate directly once journal entries have been recorded, this retroactively updates the lease from commencement, causing misalignment between the Amortization Schedule and Financial Statements.
If the discount rate is changed after the lease began, prior journal entries will need to be trued up to match the new amortization schedule.
Use the Revision workflow to apply discount rate changes. This preserves historical balances and applies updates going forward from the Revision Date.
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