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Administrator Guide
Last Updated: 2023-06-23
FAQ: Lease Accounting

FAQ: Lease Accounting

How do I relate supplier invoices generated outside of a lease contract to a lease contract to reconcile the accounting?
  1. Ensure that the supplier invoice installments from the lease accounting are in
    Accounted
     status to prevent Workday from generating the invoices.
  2. Access the
    Create Journal
     task and reclassify the debit from the supplier invoice to lease liability by:
    • Excluding the supplier contract worktag from the credit line.
    • Adding it to the debit line.
When loading historical operating leases into Workday, how do I adjust the ROU Asset/Lease liability for the period between setup and the new lease accounting?
  1. Access the
    Create Journal
     task to create a manual journal entry to reverse the initial recognition entry.
  2. Access the
    Mass Update Lease Contract Installment to Available or Accounted Status
     task to update the expense recognition and supplier invoice installments into
    Accounted
     status. This action prevents Workday from generating accounting for historical transactions.