Setting up asset classes in an existing journal entry setup

As a lease accountant, you can set up an asset class in an existing journal entry setup.

Procedure

  1. Go to Contracts > Contract Set Up > Financials > Contract Journal Entry Setup and open a Journal Entry Setup.
  2. In the Contract Journal Entry Setup, enable the check box on the Use Asset Specific GL Code field.
    The Asset Class Account Code section displays.
  3. Click Save.
  4. In the Asset Class Account Code section, click the Add action.
  5. In the Asset Class GL Code Template, select an Asset Class. See Journal Entry Setup (prerequisites), Create a Lease Asset Class sections.
    Note: The asset class options are filtered by the Journal Entry Lease Type field on the Journal Entry Setup Template.
  6. Click Find in the Debit Account section. In the pop-up form, select a General Ledger Code and click OK
  7. Click Find in the Credit Account section. In the pop-up form, select a General Ledger Code and click OK.
  8. Click the Create action.
  9. Repeat steps 4 to 8 for more asset classes.
  10. Click Save & Close.