Why is my lease liability lower than my payments?
Payments due on or before a new lease's start date are excluded from lease liability but included in ROU Asset
For leases with a start date after the Initial Application Date, payments that begin on or before the start date of the lease (or 1st through the 15th of the first month in the software) will be excluded from the initial Liability calculation, but will be included in the ROU Asset calculation per lease accounting guidance.