Using multiple accounting standards
You can register lease contracts according to an Accounting standard, such asIFRS 16 or ASC 842 or GASB 87 or GASB 96. Planon then performs all the calculations in accordance with this standard and generates the corresponding accounting commitments. Accounting commitments include all relevant accounting data and are used for reporting and postings. When you register a lease, you can specify up to three accounting standards for one contract line. Planon will then generate up to three sets of accounting commitments: one set for each standard.
Procedure
1. On the Contracts selection level, select the contract for which you want to specify one or more accounting standards.
2. Go to > .
3. Select the required lease contract line.
4. In the data panel, complete the relevant fields: Accounting standard, Secondary accounting standard, Tertiary accounting standard.
 | For more information on these fields, see Contract line fields for lease accounting. |