Interest rates are used to calculate the current value of lease payments. They are key to determining lease liability and the right-of-use asset for the balance sheet.
To provide a basis for accounting leases, interest rates can be managed in the workspace of the same name. New interest rates can either be created manually or added by importing CSV files.
To allow calculation of country-specific interest rates and rates for different asset classes, each interest rate is always created for a specific combination of asset class, country or region and currency. In addition to this, the interest for each interest rate is split into maturity brackets.
To ensure that an interest rate can be used for a specific asset class, start by creating the asset class in the Asset Classes workspace.
Click Add a new interest rate to create a new interest rate.
The New interest rate dialog is displayed:
The 'New interest rate' dialog
It is also possible to manually enter an interest rate during the creation or modification of a contract component. This manual entry will override any interest rate that might have been pre-configured.
As an alternative to manual creation, interest rates can also be imported in the form of CSV files:
Area for importing interest rates
Select the following options in the area above the overview table:
Click Browse and upload the required CSV file.
Use the Drag & Drop method to add the required CSV file.
Once this is done, click Start import.
CSV Import Templates
To make automatic imports easier for you, we have provided a template for the CSV file. The structure of this template matches that required for the import.
The CSV file includes instructions on how to add the data.
