Onboarding existing Finance Lease contracts
To onboard an existing Finance lease in Planon Lease Accounting, both Lease contract and Lease amount(s) contract line(s) must have their Effective date being the contractual date, and not the date from which the onboarded lease will be calculated in Planon Lease Accounting (in other words, the initial commencement date of the lease and not the effective date for the onboarded carrying values).
The Planon calculation start date will be set at the effective onboarding date (i.e. the effective date for the onboarded carrying values).
The Amount field will be filled in with the rent amount for the onboarding date.
Required future step rents, from that onboarding date, will be added as usual.
1. When entering the lease, at the Contract details > Amounts selection step, click Transition and offset.
2. In the Lease accounting transition field, click 
.
.3. The Lease accounting transition window appears.
4. Select the code that corresponds to onboarding and click OK.
Fill in the relevant offset fields with their corresponding amounts, depending on the classification of the lease (Finance or Operating).
◦ Offset - liability: enter the carrying amount of lease liability at the end of the date that precede the onboarding date
◦ Offset transition RoU: enter the carrying amount of right-of-use asset at the end of the date that precede the onboarding date
◦ Offset -Accumulated depreciation: enter the carrying amount of accumulated depreciation at the end of the date that precede the onboarding date