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Dear Microsoft Financial Community
With ASC 842 lease accounting standards starting on January 1, 2022 I was wandering what the best approach may be to account for leases to meet this requirement.
Can D365 do it natively or is it to much of a work around?
Thanks very much,
Hi Michael,
Last year, Microsoft had released the Asset Leasing module which accounts for leases under the new ASC 842 standard. This module is native in D365FO and is enabled through Feature Management. For more information, please see the following link:
docs.microsoft.com/.../asset-leasing-quick-start
Thanks!
Brian,
Have you actually used it? Does it really meet the requirement or are their gaps?
Yes! I would recommend the module - it meets ASC 842 requirements and is intuitive to use. It's very robust and can help clients with a handful of leases to clients with thousands.
Thank you.
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