CAPITAL LEASE IN DYNAMICS GP-2013

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Posted on by zulfi721

LEASE DATA
cost	AED 120,000
Down Pmt.	AED 25,000
Financing	AED 95,000
Inception date	1-Nov-14
Lease term	48 Month
Ist Installment	2,197
Last Installment	2,191
Interest Rate	2.75%
Monthly repayment date	Ist of every month
4 year Interest	AED 10,450.00

THE ABOVE IS THE DATA FOR CAPITAL LEASE

How can i implement it in dynamics gp-2013

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soma 24,410 on at

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Hi Zufli,

For this scenario, you can use Scheduled Payments from payable module.

As posted in previous forum, please have a look on the below link.

community.dynamics.com/.../scheduled-payments-in-microsoft-dynamics-gp.aspx

Hope this helps!!!

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zulfi721 on at

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Thx Soma

I will try to implement........

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soma 24,410 on at

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All the best....

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L Vail 65,271 on at

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There is another thing at play here. Not only do you need to set up the scheduled payment, but you also need to set up the Fixed Asset. So, don't forget to use your trigger account or POP line item check box so that this will add to the purchases table for Fixed Assets.

Kind regards,

Leslie

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soma 24,410 on at

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Leslie,

Why we need to set up Fixed Asset for above loan installment? I think, this is only related to Payable loan payment for monthly basis with interest amount.

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zulfi721 on at

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Soma

Leslie's opinion is correct...

Here at the same time we also have to book the asset...........

Coz The ownership of the car belongs to the company not of the bank............

I was also thinking on this how to schedule payments for Fixed Assets........

if i visualize....then book it through payable transaction entry by selecting Fixed asset clearing account in the distribution....

then move towards the fixed assets..............

and at a later stage applying schedule payments if visualization works

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soma 24,410 on at

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Zulfi, thanks for the detail....

Also thanks to Leslie....

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zulfi721 on at

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Here is the screen shot of the two schedules.......

one is given by the bank for car installments and other is generated by gp...Keeping in view the above data...

simple interest rate is being used...

Now i have to pay to bank monthly 2197.....and gp is calculating the monthly installment 2196.88 for me...

if i fix the amount in schedule payments 2197 keeping other things same it makes 47 installments

Actually i have to pay this amount in 48 installments

so kindly let me know is there any chance that we can apply schedule payments for this purpose

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L Vail 65,271 on at

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Zulfi,

I'm not for sure what entries you are suggesting, but my take on this is that you have a capital lease, so the entry would be to put the Fixed Asset on the book for the implied principal amount of the lease with the other side of the entry to a payable account. You can do all of this through A/P and then move it to a Notes Payable account when you set up your scheduled payment. The fixed asset account would only be hit once at the origination of the lease.

Kind regards,

Leslie

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