Monthly process routine

Updated on 26 Jan 2024
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This is a summary of action in the system in respect to accounting period (assumed, monthly).
MONTH OPENING:

Insert new Incremental Borrowing Rates (See 27)
(NOTE: IBR to be reviewed periodically, not necessarily monthly. Can be Quarterly or annual review)
Insert currency exchange rates, which will be used to valuate leases commencing in this month. (Only if you have leases in foreign currency).

DURING THE MONTH:
3. Enter new Leases to the system (See 2 and 3)
4. Activate new leases (See 11)
5. Update existing leases as required (lease modifications) (See 16)

END OF MONTH:

Enter New Index and Reference Rates in the system (See 21) (Only if you use “repricing” automation)
Run Lease Repricing. (See 22) (Only if you use “repricing” automation)
Run A/P Reconcile (See 23)

A/P reconcile shows one side – payables due as per lease agreement in SOFT4Lessee. You need to compare to amount of actual payments made to lessors. In case of non-reconcile, you may need to update lease data in SOFT4Lessee (e.g. lease agreement missing, Payment amount has changed, lease has been terminated, etc.). It is not too late to update lease data, as monthly postings not done yet. Reconcile is based on Payment Schedule, not G/L

Run Post to G/L (See 13)
Export G/L Output from SOFT4Lessee (See 15)
Import G/L Output to your local accounting
Change Posting Period in General Ledger Setup (lock G/L postings to the closed period and open posting to next period)

Open “General Ledger Setup” page, change “Allow Posting From” and “Allow Posting To” date values into current period starting and ending dates on each subsidiary. This prevents any further postings to closed period.

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