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Administrator Guide
Last Updated: 2023-06-23
Steps: Record Active Lease-Type Supplier Contracts

Steps: Record Active Lease-Type Supplier Contracts

Set up lease accounting.
You can represent active lease contracts by changing the status of expense recognition and supplier invoice installments to
Accounted
. This status prevents creation of duplicate historical lease accounting transactions. Changing the installment status enables you to generate accounting transactions from any installment period on the lease-type supplier contract.
  1. Create lease-type supplier contracts with the
    Submit Supplier Contract
     web service.
  2. You must receive contract lines for:
    • Financial leases.
    • Operating leases that use the ROU asset depreciation expense accounting method.
  3. (Optional) Register Assets.
    You must register contract lines for:
    • Financial leases.
    • Operating leases that use the ROU asset depreciation expense accounting method.
  4. Access the
    Mass Update Lease Contract Installment to Available or Accounted Status
     task.
    Select the installments you want to update. Workday doesn't generate additional expense recognition accounting on installments with an
    Accounted
     status.
    Security:
    Process: Supplier Contract - Mass Action
     domain in the Supplier Contracts functional area.