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Cancel a Residual Value of a Lease asset after Lease end date

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Posted on by MD-20111037-0

How could I cancel or reversal the residual value guarantee of a lease asset after the lease end date?

i have a car which lease ended in February. Now, in November, I discover that the car has not been bought at the end of the lease.

The residual value is used for the possible purchase of the asset... so I don't need this amount.

How could I reverse the residual value of this lease ? (Because in my payment schedule I have a last payment for the amount of the residual value which will not be matched with any purchase invoice .

thank you in advance,

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Sathish Kumar Palan... 287 on at

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Cancel a Residual Value of a Lease asset after Lease end date

Hi

Use Modify lease with an effective date at the lease end (February). Remove the residual value guarantee amount, let the system recalculate, and post the adjustment. This keeps your books clean and compliant.

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