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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Upload of opening bala...
Finance | Project Operations, Human Resources, ...
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Upload of opening balances in Asset Leasing

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Posted on by NM-16090602-0 2
Hi,
 
I need to upload the opening balances for leased assets. I followed the mentioned link Asset Leasing Opening Balance Migration Guide - Prospective Approach.
Following transaction gets posted:
Step1
 - ROU asset A/c Dr
           Lease Liability A/c Cr
           Deferred rent carryover A/c Cr
 
As per my understanding, I will upload the value of ROU asset using FA journal and also the accumulated depreciation
Step2
- ROU asset A/c Dr
   Opening balances A/c Cr
- Opening balances A/c Dr
   Accumulated Depreciation A/c Cr
 
Then Lease liability will be uploaded using General Journal by
- Opening balances A/c  Dr
                  Lease Liability A/c Cr
 
After posting the initial recognition, Step 6 says about reversal of initial recognition.
 
Does that mean the initial entry posted above under Step1 should be reversed so as to avoid dual postings of ROU asset and Lease Liability?
Please confirm
 
Thanks
 
Categories:
Dynamics 365 Finance
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