Add Accounting Schedule Type - Common Procedure
These procedures are generic. The name of the Add Schedule Type and the Add Schedule Type window varies depending upon the type of type schedule you are creating. For example, if you were creating a ASC 842 Schedule, the and window would be called the Add ASC 842 Schedule Type and window.
To create a new schedule type:
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Click
to the immediate right of either the appropriate Schedule field. A window opens with a list of schedule types.
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Click Add Schedule Type.
The Add Schedule Type page opens.
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Enter a name for the schedule type in the Type field.
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Select the Don't Amortize Asset Value check box if you want to prevent amortization of the asset balance allocated to your secondary schedule.
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Enter a description for the schedule type in the Description field.
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Enter any export account numbers in the Export Account fields.
Export Accounts are tied to GL accounts in your Enterprise Resource Planning (ERP) System.
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If you will be splitting your rent expense between two schedules, select the secondary schedule type from the Secondary Schedule Type field.
The Secondary Schedule Type is used when you want to allocate a certain percentage of an expense setup to a secondary schedule. This is typically used when the value of your land exceeds a certain fraction of the combined land / building leased property value. In this scenario, accounting regulations allow your land and building to be treated as separate components in accounting, even if a single rent payment covers both the building and land expense. In Lucernex, this is called a Land / Building split.
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Select the portfolio you want this schedule type to be available for from the Available for the following Portfolios / Capital Programs field.
All Portfolios / Capital Programs is selected by default. You can select multiple options.
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Click Add.
The window closes. The schedule type you created is selected in the corresponding field.
