Hi All,
could someone answer my queries:
Need the steps to configure Operating lease of fixed assets with examples.
From my understanding we create assets under class 6000.
1. But we deactivate depreciation areas and create a static asset; does this mean we deactivate all depreciation areas including the Depreciation are '01' too.
2. if we are deactivating all the depreciation areas we won't be needing GL account determination?
3. No need to run depreciation run for these assets? (My understanding is that I just capitalize the asset in Class 6000 and post leasing expenses to PL Expense account. Kindly correct me if there is anything more we need to do)
4. I mention the lease start date and lease duration in the asset master; lets say 01.01.2015 as start date and 5 years as duration. what is the significance of this? is it to just say that I will be posting leasing expenses for 5 years?
5. Finally is there a way that I could automatically post 'rental/leasing expenses' to PL Expenses account automatically. (this is our main requirement)
Thanks a lot in advance.
Sree.