Create payment invoices

Important

Some or all of the functionality noted in this article is available as part of a preview release. The content and the functionality are subject to change. For more information about preview releases, see Service update availability.

You can create monthly invoices for individual leases, or you can use a batch process to create them for multiple leases. The following procedure shows how to create an individual lease payment entry when the Pay to Vendor parameter on the Lease book setup page is turned on.

1. On the Lease summary page, select a lease, and then select Books > Payment schedule.

2. Select the payment that must be made, and then select Create journal. You receive a message that states that a journal was created against the selected payment.

3. Select Invoice journals, and then select the invoice that must be paid.

4. On the Lines tab, review the journal entry before you post it to the general ledger.

   Note

   By default, the vendor invoice lines that are created use the vendor posting profile from the Accounts payable parameters page.

5. Select the correct journal, and then select the invoice that must be paid.

   For this example, the Pay to Vendor parameter on the lease book is turned on. Therefore, the invoice will be in the invoice journal. The Overview section shows a summary of the journal entry, and the Lines section shows details of the actual journal lines.

   The system locks certain financial fields from being edited to prevent any variances between the transactions and the schedules. Some fields that are locked include: Account, Amounts, Financial dimensions, Currency, and Transaction type. Additionally, you won't be able to add or delete journal entry lines in any Asset leasing journal entries, as this might cause variances between the schedules and the transactions.

   Note

   If the Pay to Vendor parameter is turned off, payment journal entries will be listed on the Asset leasing page for the lease book, and the system will create an asset leasing entry instead of an invoice. The lease payment entry will be posted to the journal name that is specified in the Monthly lease journal field.

6. After the transaction is posted, you can view the transaction information and the carrying value of the lease liability by selecting Liability transactions in the lease book.

   In the payment schedule, the Journal posted check box will be selected, and the line will show the invoice journal number. After a payment journal and an entry for that journal have been created, you must reverse the entry before it can be re-created.