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We have a client requirement where they want to track Future Obligations for Leases. Can someone please explain the set up required, transactions and reporting.
Thanks,
Muhammad
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Hi Muhammad,
For lease accounting and tracking you need either an add-on or make a system modification yourself. The standard application cannot fully handle leasing scenarios comprehensively.
Best regards,
Ludwig
Thanks for reply, Ludwig.
So, for the particular scenario I have mentioned, the functionality would not exist out of the box?
Hi Muhammad Jarral,
In general, when it comes to leasing obligations, an adjustment or the use of an ISV solution is required.
Those features are not available out of the box.
We understand many clients will be requesting a solution to account for leases given the new lease accounting standards soon going into effect.
For this, Crowe Horwath LLP has developed an application completely embedded in Dynamics AX and Dynamics 365 to account for leases under the IFRS 16 and ASC 842 standards. Our application can track future payment obligations and much more.
To learn more, please visit our site on Microsoft AppSource at the link below:
https://appsource.microsoft.com/en-us/product/dynamics-365-for-finance-and-operations-enterprise-edition/crowe_horwath.4aa0180c-0b70-4c5e-9539-e7d7d841ee52?tab=Overview
Brian
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