Accounting summary section
Use this section of the form to identify the accounting dates, deferred liability values, and other accounting details for the record.
| Item | Description |
|---|---|
| Accounting Start Date | The date when accounting begins. The form populates this date from the Commencement Date field. |
| Accounting End Date | The date when accounting ends. The form populates this date from the Expiration Date field. |
| Straight Line/Month | The monthly payment that is based on the straight-line calculation. The straight-line calculation takes the accounting start and end dates (with defaults from the lease commencement and expiration dates) to determine the duration. This calculation also includes free rent (or rent abatement) periods. If there are payments within any day in a month of the accounting dates on the lease, the straight-line calculation uses the full month. |
| Deferred Liability Balance | The balance that occurs when the straight-line expenses exceed the cash payments in the lease or agreement. |
| Deferred Liability Carryover | The amount that occurs when the tax value is lower than the straight-line accounting value. This difference creates a net loss that cannot be used to reduce past income taxes, but can be applied to reduce future taxable income. |