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In this video I will run you through the reports that are available in Asset Accountant in
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relation to leasing. I'll be showing them in relation to asset finance leases but the
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principles also hold for right of use assets as well if you need those and there will be
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a separate video on that as well.
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You will want to run these reports when you are preparing your accounts for audit or for
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month end in order to be able to see the position in relation to a number of the attributes
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that the leases have in the Asset Accountant system.
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The reports can be run from this button here that says reports. You will be able to select
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the report type. So down here you can see there are a number of reports in relation
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to leases. So you select the report that you need and if you want to group them by
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classification so sometimes there is a group by financiers or location or profit centre
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you can do that from that drop down. You choose the date either a start date or a period depending
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on the report and then all of these reports are available in PDF or CSV.
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Once you've chosen the report you can then choose the date, run the format and then you
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just generate it. The system will create the reports for you.
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I have one of each report type already set up. This one here I'll just show you in the
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PDF. So this is the lease asset summary. This shows you the information in relation to every
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asset that is held under a lease. So this is the information for the disclosures in
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connection to the asset side. You can see that there again this is all available in
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Excel or PDF. And then I'll just run through all of the other reports that I've got open
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here in Excel. This is the liability summary for accounts. So in this report here you can
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see the disclosures that you need to make in terms of the liabilities that are outstanding
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less than one year, one to two years, two to three years and so on as well as any accrued
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interest that you've got at the date of the report. This version of the report will show
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the information that has been added into the system and was live as at the date you choose
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the as at date. So this means if you want to exclude some future changes that have been
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added because you didn't know them at the time that you need this report, this report
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will give you that information as it was as you would have known it as at for example
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your year end. So even though there may be some changes in the system that were processed
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after that, you may not want them in that report. So this report here has that information
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in. The next report has all of the information in. It's the same report for less than one
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year, one to two years and so on. But this has all the information that's in the system
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in so this will show you the current position as the system currently understands it rather
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than at a particular point in time in the past which you may need for audit purposes.
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The next report is the lease summary report. This is a comprehensive report that shows
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for each asset the outstanding principal, accrued interest and net liabilities and so
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on split between current and non-current. So you can see the headers here. So this has
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got the current outstanding principal, any accrued interest, then the current net liability
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which is the principal plus accrued interest. Then we have the unexpired interest, so that
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is interest that has not yet been charged to the P&L because the time hasn't expired
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on that and that adds up to the gross liability. So the gross liability in this report column
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H is the full amount of the payments you have to make not discounted for a interest
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amount to get you to the principal so in case you need to disclose those two items separately.
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The next few columns are exactly the same information for non-current and then that
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ends in the total net liability which is the current plus the non-current liabilities as
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at the date of the report. And then the final columns show you the interest expense that
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were charged to the P&L in relation to each one of those leases over the 12 month period
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that you're running that report for. So that is the lease summary report. The next report
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we'll look at is lease amounts paid. So this is the cash amount out of the door so each
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month you can see what the payments are in relation to each one of these leases and that
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will help you for cash flow forecasting. So you can extract this information here in an
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Excel file, do any work with it. You need to put totals in and so on and use those numbers
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for your work. The next report we have are the lease finance balances. So these are the
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amounts that are outstanding at the end of each month. If you split these by classification
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you can show financiers. This will show you the outstanding amounts that you've got in
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relation to each of the financiers so you can see how much headroom you've got on the
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amounts that you owe them. That is the lease finance balance report there. Then there
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is a further lease finance balances report that will show you the principal. So that
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will show you the net of interest. So that's the liability, the formal liability that you
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have at any particular point in time and will not include the interest. The gross liabilities
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will show you those amounts with interest. There's a report here that's called the lease
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expiry schedule. So you can see here this has all of the assets listed with the status
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and you can see the end date, the interest rate, the amount financed and then your final
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payment. So this is useful for planning if you have a number of balloon payments that
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you want to be able to see when those are coming due. That's the lease expiry schedule
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report that will show you that information. The lease interest expense report here shows
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a period by month. This is the interest that's charged to the P&L over the course of the
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12 month period you run the report for you so you can see by lease how much is actually
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charged, how much interest is charged to the P&L for each one of those. And then finally
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we have this further information report that shows the type of lease, the cost accumulated
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depreciation so the actual carrying value of the asset on the balance sheet and then
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we compare that to the amounts that are outstanding and if you have a negative equity amount you
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can see there on any particular asset you can see a comparison of the equity that you
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have in the vehicle per the balance sheet and the outstanding liability on the loan.
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So in this report we've looked at the information that you can extract out of Asset Accountant
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in order to report on leases and understand the balances that are showing in there and
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reconciling them to the journals that are posted within the system.
