Page 3 - How do I Enter a Leased Asset with Warranty/Maintenance Contract
P. 3
Leased Assets and Maintenance Contracts
Lease Term
1 6
2
3
4
7
5
8
9
1. Enter the Lease Term in Periods (months).
2. Enter the Estimated Life in Periods. This must be equal to or greater than the lease term. Review terms of
Operating and Capital Leases.
3. Select a Payment Schedule ID from the list.
4. Enter the Fair Value of the leased item.
5. If provided, enter the Guaranteed Residual Value.
6. Enter the Minimum Rental Payment (MRP).
7. Select the appropriate Lease Payment Type. Select either Advance or Arrears.
8. Click the Verify button within the Lease Type section to determine if FASB Statement 13
criteria has been met for Operating or Capital lease. Compass selects the compliant value.
9. Click the Calculate button to determine the Minimum Lease Payments (MLP) and Present
Value Lease Payments.
10. Click the Operating ChartFields tab at the top of the page or the link at the bottom of the
page.
Page 3 of 7
Emory Confidential and Proprietary Last Revised on 2/7/2018 Return to Table of Contents
