Hi Aleeia,
The short answer is no, the opening balance for the lease liability amortization schedule is a system calculated value of the sum of the present value of payments from the payment schedule. This value cannot be inputted manually because the module will automatically calculate this value to ensure the lease liability value will fully amortize over the life of the lease.
Are you hoping to match the beginning balance to the current carrying value of your lease liability from a legacy system? There are ways you can "back into" a specific opening balance by entering an incremental borrowing rate and compounding interval that will discount your remaining lease payments to a specific value. The remaining lease payments discounted at the rate you had originally discounted your lease payments should equal the same value if the rates are compounded the same.
As an example, if you have a lease with 36 monthly payments of $1,000, discounted at 5%, annuity due, and compounding monthly starting on 1/1/2020, the carrying value of the liability would be $22,889 as of 1/1/2021 after 12 months of payments. If you wished to enter this lease in Asset Leasing as of 1/1/2021 and were hoping for a beginning balance of $22,889, you would simply enter the remaining payments discounted at the same rate as the legacy system. Therefore, a lease commencing on 1/1/2021 with 24 monthly payments of $1,000, discounted at 5%, annuity due, and compounding monthly would yield a beginning balance of $22,889.
Please let me know if you could provide additional details and I'd be happy to suggest a way to accommodate your scenario.
Thanks,
Brian
