What's New in Lucanet Lease Accounting

Under Settings, the new Profit centers and Accounting areas workspaces are available next to Cost centers. You can create a profit center or an accounting area for a specific reporting entity or for all reporting entities; a profit center can additionally be related to a cost center.

In the General information tab of the component form, you then assign a profit center and an accounting area to a contract component.

Profit centers are also available if you use Lucanet Lease Accounting integrated with Consolidation & Financial Planning, but are not transferred there because this dimension does not exist in Consolidation & Financial Planning.

When modifying a calculated contract component, the General information section now groups the master data dimensions under Modify master data dimension with the options Change cost center, Change profit center, and Change accounting area. You can select the new value and an Effective date.

The change creates a new component event: postings from the effective date use the new value, and historical postings remain unchanged. Like the existing cost center modification, the profit center and accounting area modifications are statistical only — they do not affect any calculation, such as the interest rate, the right-of-use asset, or the lease liability.

The Account balance report offers the new Aggregate by profit center option. When you activate the option, the report displays the account balances separately for each profit center.

If the component currency differs from the functional currency of the reporting entity, Lucanet Lease Accounting now translates the lease liability and all related values, such as repayments and interest, into the functional currency when you create postings.

The difference arising from retranslating the lease liability at the closing rate as of the reporting date is posted separately as a currency difference and recognized in profit or loss. It is calculated individually for the short-term, mid-term, and long-term portions of the lease liability and is identifiable by its own posting type.

If no exchange rate is available for the posting period, the postings are not created and a message refers you to the Exchange rate management functional area under Administration.

In the Preview & save postings workspace, you can now display the pending postings before you save them. You can select one or more reporting entities in the Reporting entities drop-down list, specify the period under Create postings up to, and click Preview postings. The number of Posting lines and Contracts in the preview is displayed next to the buttons.

The table lists every posting that has not yet been created for the selection — including depreciation, interest, lease payments, and currency translation differences.

The preview does not change any data. Click Save postings to create the postings after confirming the period and reporting entities in the dialog.

When you create or edit an asset class, the Asset class type drop-down list now additionally offers Additional asset class type 1 to Additional asset class type 20. Use these types to classify asset classes for which no standard type exists.

Like the standard types, the additional types are labels only; depreciation and all other measurement settings remain configured on the asset class.

The component form now displays a Car fleet tab for components with a fleet-related asset class and a Real estate tab for components with a real-estate-related asset class. Record details such as license plate, mileage, brand, and model for vehicles, or object number, address, area sizes, and reference value for properties.

All fields are optional. Lucanet Lease Accounting saves the details with the component and copies them when you copy the component.

The new Change of lessee workspace lets you transfer active, calculated contract components from one reporting entity to another as of a transfer date. Download the template, enter one transfer per row, and upload the completed XLSX file.

Lucanet Lease Accounting terminates the source component on the transfer date and creates a new component in the target reporting entity with the opposite effect, so that the transfer nets to zero at group level.

Rows that fail validation are listed with the reason and do not change any data.

In the Migration workspace, the new Migration result tab summarizes how many components were migrated successfully and lists the components that were not migrated, grouped by reporting entity and with the reason for each component.

The tab displays the same findings as the Migration report, so you can assess the result without opening the Excel file.

If you use a standalone license for Lucanet Lease Accounting, you can now export postings for more than one reporting entity in a single export. In the Reporting entities drop-down list, select one, several, or all reporting entities. Under File preferences, choose whether to generate One file for all reporting entities or Individual files per each reporting entity.

You can now create the Account balance report for more than one reporting entity at a time. Multiple reporting-entity selection is now available for all report types except Asset register, which is planned for a future release.

When modifying a calculated contract component, the Underlying asset section now offers a Change asset class modification — for example, to correct a wrongly selected asset class. You can modify the Current asset class by selecting a New asset class and an Effective date to re-classify the component. The change is statistical only: it updates the asset class for classification, grouping, and reporting, and does not trigger a recalculation or affect the interest rate or depreciation.

You can now create the Contract overview report for more than one reporting entity at a time, in addition to the Disclosures and Balance values for reference date reports. In the Reporting entities drop-down list, select one, several, or all reporting entities; the data for all selected entities is compiled into a single file, and each entity's data is identified by its name or code.

When you click Generate report, the Report Generation confirmation dialog now appears so you can check your selection before the report is created.

When you open Lease Accounting for the first time, a warning icon now appears next to Reporting entities, Asset classes, and General configurations in the Settings menu until each section is set up. The icon disappears automatically once the section contains data — for example, after you import or create a reporting entity, create an asset class, or save the general configurations.