Lease Accounting Software – Deposit Management
Upload Lease Deposit
Deposits with sample data
Import ‘Lease advance’ file
Click the import data and upload the advance.csv in the given format
Compute the Lease Deposit
Prepare the schedule of dates first.
1. Discount factor is based on the rate given in the Advances file by adding the two fields –
Let us call the sum total of these two as ‘Rate for Deposit’
2. For the first line, where the advance amount is given the discount factor is found by the number of days from the start date to the end date in the formula:
3. For the subsequent lines, the number of days is the current date less the start date.
4. The initial carrying value is the same as the present value.
5. Imputed interest is the current carrying value less previous carrying value. 6. Amortization is the Right to Use Deposit divided by the total number of days multiplied by the number of days between the current date less previous date.