Monthly Process Routine

Table of Contents

Beginning of the month During the month End of the month

This is a summary of actions you may need to take in relation to the accounting period, assuming monthly periods.

Beginning of the month

  1. Insert new Incremental Borrowing Rates. (see how to add Incremental Borrowing Rates here);
    1.  Incremental Borrowing Rates can be reviewed periodically, not necessarily monthly (it can be a quarterly or an annual review);
  2. Insert the Currency Exchange Rates to be used for valuating leases commencing this month (only applicable if you have leases in foreign currency).

During the month

  1. Add new leases into the system (read about importing leases and creating new leases);
  2. Activate new leases (read about lease activation here);
  3. Modify existing leases if required (read about lease modification here).

End of the month

  1. Enter new indexes and their reference rates in the system, then perform a repricing run;
    1. This is only applicable if you use indexed leases;
  2. Run A/P Reconcile (read about how to run A/P Reconcile here);

A/P Reconcile displays the payables due as per the lease agreement in Soft4Lessee. These need to be compared with the actual payments made to lessors. If amounts do not reconcile, you may need to update lease data in Soft4Lessee (e.g., missing lease agreement, changed payment amount, lease termination, etc.). It is not too late to adjust the lease data, as monthly postings have not yet been made. Note that the reconcile is based on the Payment Schedule, not the General Ledger.

 
  1. Run the Post to G/L action (read about posting to G/L here);
  2. Export the G/L Output from Soft4Lessee (read about exporting the G/L Output here);
  3. Import the G/L Output into your local accounting system;
  4. Change the available Posting Periods in the General Ledger Setup page (read about posting restrictions here);
    1. This closes the previous period and opens posting to the next period;