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Accounting Details - Contract Module

The Accounting Details page allows you to view your rent schedules and lease classification tests all in one place.

To view a straight line schedule, ASC 842 Test, ASC 842 Rent Schedule, IFRS 16 Rent Schedule, or GASB 87 Rent Schedule in greater detail, click View link in the right-most column next to the schedule.

Your firm will either have IFRS 16 or GASB 87 enabled, but not both.

Note:

Public business entities are required to adopt ASC Topic 842 for reporting periods beginning after December 15, 2018. That means an effective date of January 1, 2019 for public entities with a December 31 year end. Nonpublic entities have an extra year to adopt. All entities may elect to early-adopt (American Institute of Certified Public Accountants, Inc. 2016). To learn more, read the AICPA's summary of the new ASC 842 standard.

To navigate to the Accounting Details page:

  1. Navigate to Contract > Accounting Info > Accounting Details.

    Use the links in the Navigation Pane on the leftmost side of the page.

  2. Follow a procedure below.

ClosedDelete Contract

The ability to delete a contract is dependent upon your user permissions.

To delete your contract:

  1. Click Edit.

    This displays in the Actions menu on the right side of the page.

    The page becomes editable.

  2. Click Delete.

    This displays in the Actions menu on the right side of the page.

    A dialog opens, asking you to confirm your choice.

  3. Click Yes.

    The contract is deleted.

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