Open topic with navigation

Real Estate Portfolio Management / Lease Administration / Lease Portfolio / Extension for Lease Accounting

Record Leases that are Transacted in a Different Currency

Requirement

Lease costs and liability must be calculated in the payment currency used for the contract and the actual payment transactions.

Procedure

1. Enable the ARCHIBUS Enhanced Global Feature Set using the System Administration / ARCHIBUS System Administrator / Enable-Disable VAT and Multicurrency task .
2. Enter all costs using Cost, Schedule Cost, or Recurring Cost records using the Real Estate Portfolio Management / Cost Administration / Cost Administrator / Cost Wizard for Leases, Buildings, or Properties task. Enter costs in the payment currency. See Scheduling and Adding Recurring Costs When Using ARCHIBUS Enhanced Global Feature Set.
3. Do not enter any costs in the Options Cost - Estimated field.

Outcome

All costs will be recorded in the payment currency. Specifically these income and expense fields:

• Amount Income - Total (Payment)
• Amount Expense - Total (Payment)

Even if you do not have the Enhanced Global Feature Set enabled and you enter costs in the Amount - Expense and Amount - Income fields, ARCHIBUS will record transaction costs in the Amount Income - Total (Payment) and Amount Expense - Total (Payment) fields using the system default currency so that reports and calculations are consistent between all methods of currency handling.

When calculating future payments and amortization, the Wizard generates amortization calculations in the payment currency. The calculations require all transactions to be in the same currency for one lease.