The Asset Components report is primarily intended for auditing purposes. It shows the individual components of the ROU asset and its depreciation. While the ROU asset is initially the same as the present value of the rent (whiich is the initial liability for the lease), it is adjusted for the following items: lease incentives, rent leveling (operating lease only), initial direct costs, and asset adjustment. This report shows for each of these items the initial amount (which is included in the ROU asset), the accumulated amount (included in the accumulated ddpreciation), and the current period's activity (included in the depreciation expense for a finance lease, in the depreciation part of the lease cost for an operating lease). The “gross” values shown represent what would be recorded without any of the adjustments.
Because the various adjustments are combined when the actual depreciation is calculated, separating the components may result in the display of rounding errors. The components are shown rounded to the nearest cent, so they may sum to a slightly different result than is actually booked for depreciation.
Because of the more limited space available for a text report, the net (actually reported) ROU asset, accumulated depreciation, and depreciation expense are not shown. All amounts are shown on the spreadsheet report.
Net ROU Asset, Accum Depr, Depr Expense
The amounts shown on regular accounting reports.
Gross ROU Asset, Accum Depr, Depr Expense
The amounts that would be shown if there were no adjustments to the asset. The Gross ROU Asset is the same as the initial liability for the lease, unless a different amount has been specified by the user.
Initial Direct Costs
As entered on the Inception tab. Added to the gross ROU asset.
Reflects the difference between life to date cash rent and life to date level rent expense for an operating lease. The deferred rent is non-zero if there is a balance at the time the lease transitions to ASC 842/IFRS 16/GASB 87. The deferred rent balance is the current liability (or asset) as of the end of the report period. The deferred rent period change is shown as the opposite sign to facilitate summing all activity amounts on the report.
This can be either positive or negative, when the initial setup of the asset should vary from the liability. This is most commonly used to account for business combinations, where a lease may be assigned an asset value as part of the purchase valuation that is not directly connected to the present value of the rents.
Your report title
Enter any title you want to give to the report. The type of report is always displayed at the top left corner; you can use this title to describe the report (such as “Period 2, Midwest Division”).
Type of leases to use
You may limit the report to just the capital leases, just the operating leases, or use both (the default). This option is not displayed for reports that include only capital or only operating leases. If a lease is part-capital, part-operating, the appropriate portion is included if you choose one or the other.
Group of leases to use
You may choose All leases, a Group of leases starting with the same character(s), or a Single lease. If you choose Single lease, a popup displays the leases in the file; choose the one you want. If you choose Group, you are prompted for the beginning character(s) to search for.
You can create a text report that displays on the screen (and which can then be exported in HTML, PDF, Rich Text Format (.rtf), Microsoft Word® (.doc), Microsoft Excel® (.xls), and Crystal Reports (.rpt) formats). Please note that the Excel output exported from a text report is laid out the same way as the text report, which is generally not well-suited for sorting and otherwise manipulating the data inside Excel. If you export a text report, please wait for the “Export completed successfully” message to display before continuing with EZLease.
You can also create spreadsheet output. This is specifically designed to manipulate inside a spreadsheet program; each account of a journal entries transaction is displayed on a single line, so you can select, sort, and sum results. The same information is provided as on the text report, but the layout is considerably different to facilitate data manipulation. If you select spreadsheet output, you are prompted to specify an output filename.
In System Options, you can select whether the spreadsheet output should be generated as an Excel .xls file, or as an XML-format spreadsheet. Output in Excel format requires that you have a licensed copy of Excel on your computer.
Enter the beginning day of the first period of the report.
Select Fixed if you want one or more whole calendar periods: months, quarters (3 months), years, or 28-day periods. Select Fiscal to use fiscal periods (calendar months or 4- or 5-week periods based on your company’s calendar). Select Variable if you want to enter each report end date.
If you choose Fixed, select which type of period (months, quarters, years, or 28-day periods) and how many of those periods you want. The end date of the last report period is automatically calculated and displayed. The default is 1 month. You may enter up to 999 periods.
If you choose Fiscal, the fiscal date pattern you specified in System Options is used. Specify the starting fiscal period, then whether the report period(s) should be a single fiscal period each, a fiscal quarter, or a fiscal year. The start and end dates for the entire report are shown immediately below. The default is the current fiscal period.
If you choose Variable, you may enter any number of end dates. If you wish to enter more than one date, press Enter once you have completed a date entry, and another date appears. Dates are immediately sorted if you enter a new date that is earlier than the previous date. To delete a date, click on it to highlight it, then press Delete.
Click this button to get a secondary screen which allows you to select special groups of leases and temporarily capitalize operating leases.