NetLease - Lease Liability GL to NetLease Reconciliation
Purpose
The Lease Liability GL to NetLease Reconciliation report is used to review the lease liability GL balances per lease. These balances should be compared to the NetLease subledger at period-end to ensure all expected transactions and balances per the subledger have been properly reflected in the GL.
How To
Navigation:
NetLease > Reports (All or GL & Recon) > Lease Liability GL to NetLease Reconciliation > Run
Filtering:
The report search can be narrowed down by adjusting the filters for account, subsidiary, lease type, period, lease ID. The report will automatically update as filtering options are selected.
Account filter has a mutli-select ability, ensure only the lease liability accounts are selected.
Results
Upon running the report the user will see the sum of all lease liability transactions balance per the GL and NetLease subledger balance by lease. The user would expect the lease liability column and the lease liability subledger column to balance. Select the export button to download the report into Excel.
Troubleshooting
If the GL does not equal the NetLease Subledger check the following:
1. Have all period-end journal entries been run?
2. Have all modification, initial balance, and termination entries been run for the period?
3. Have all reclass journal entries been run?