Introduction

Welcome to Advance Disclosure Report training with VLU. This course will guide you on steps that can be taken to remedy common issues within the disclosure report
Objectives By the end of this course, you should be able to:

• Understand how least filters play a role in the generated report and how to ensure they are set up correctly
• Choose the correct report options when configuring the report
• How to identify mistakes within a generated report

Agenda Please Take a moment to review the agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

Setting Options

In this video, we will discuss the various options and filters that can be used when setting up a disclosure report.

Before we get started, please note that the disclosure report is not the roll forward report and should not be utilized as one. You will need both the disclosure and roll forward report in order to do a proper disclosure.

Many problems on a Disclosure Report can be avoided by ensuring the information is entered correctly before generating the report. However, if there are issues in the report, there are some elements to check in the options.

In many cases, a user may miss or only accept the default lease filter options on the left-hand side. In most cases, a pending lease should not be included in a disclosure report. Instead, uncheck the Pending box, and ensure Active and Expired are selected. Why select expired? Because you may have a lease that expired during the time frame the report is run, and activity from those active periods still needs to be accounted for.

Next, check the date range for the report and make sure you have selected the appropriate dates. Note that there are small differences in how the platform calculates annual and monthly ranges. A custom date range of January to December may not give the same results as choosing the Calendar Year option.

We recommend using the preset options whenever possible.

Check that the correct accounting standard is selected. Only one standard may be used for the report.

Next, ensure that the correct calculation statuses are included.

Calculations with the status of Active, Historical, and Historical Correction Adjustment contribute to your financial history and should be included. This includes leases that have naturally expired even though they are no longer active.

The remaining three statuses should not be checked for a normal disclosure report.

• Historical Correction Full Reversal calculations should not be included since the included periods are accounted for in the corrected calculations. If the Full Reversal calculations are also included, it will double-count those financial entries.
• Hypothetical & Pending – Its not meant to be sent to your ERP system since it is not active and should not be included in a roll forward report.

Reporting on these statuses may have benefits in rare circumstances, so they are not disabled. Our recommendation, though, is to review the need within your company first, to ensure only the desired results are achieved.

Next, select a lease type. If more than one type is selected, the platform will segregate operating from finance leases. Checking the short term box will bring in short term lease information into the report as well. For IFRS 16, selecting low value will include and of the IFRS 16 records that meet the low value threshold and identified as low value in the record type.

Select a reporting currency if necessary. This is done when there are leases are in multiple currencies. Otherwise, it will default to the lease currency.

If multiple currencies are utilized by your company within the visual lease platform, it would be ideal to hvae functional currency enabled.

Please Note: If functional currency is enabled, the option for Current Spot Rate for Non-Monetary Assets should never be selected. Doing this will impair the automated management aspect of it. If you wish to have functional currency enabled in your database, please reach out to Visual Lease Support.

To better understand when the non-monetary assets box should be selected when functional currency is disabled, lets give a couple scenarios:

First, if your organization have records in multiple currencies, but the books are kept in a single currency, which is used for reporting, then all the activities are remeasurements. Which is when the record currency moves to a functional currency. In this scenario, the option for Non-monetary assets should remain unchecked.

The second scenario is if your organization keeps books in every applicable currency, the lease currency is never different, and are converted to a single currency for roll up reporting purposes, then all the activities are considered translations. This is when a functional currency moves to a reporting currency. The option for non-monetary assets MUST be checked for the proper exchange rates to be applied.

If either of these two scenarios do not apply to every single record in your portfolio, then you must have functional currency enabled. When it is enabled within the platform, both processes are managed automatically.

A quick tip: If you believe the results on the report are in error, and there are foreign exchange issues, the best course of action is to run the report in the lease currency first. This will isolate the two components and help identify the issue.
Callout door or transition to ppt for this
Moving on to the output settings you can export as a PDF or an Excel file. The PDF is formatted to be added directly to your financial footnotes. Typically you will also want to export the Excel file as well, as it also contains the supporting material for the disclosure.

Once the options and filters are selected, click Generate Report and a link will be emailed to you for downloading.

Report Mistakes

In this video, we will discuss some key spots in the disclosure report that may display mistakes made in other sources such as the underlying schedule, the reports settings, or substantial changes that are made after the report date.

The disclosure report shows cash flows, expenses and analytics for new ROUA brought on over the year. Additionally, it provides a snapshot at the end of the year outlining the weighted averages, liability balance, and what future cash flows are going to look like.
The first section of the disclosure tab is the Expense information. The expense information will display what is hitting the financial statements, in most cases straight line rent for operating leases, and straight line amortization for finance leases as well as short term and variable lease expenses as well as any sublease income, if applicable.  In the Other Information will show the cashflows. It will display the amount of cash spend on finance and operating leases.

Please note, these amounts will look similar to the amounts in the finance section but they are not the same but rather, slightly different than the above section.

The lease schedule has a typical flow which is:
• The creation of a calculation (New or Transition)
• Any modifications to the initial calculation
• And the eventual expiration of the schedule
Anything outside this flow can cause errors in a diclosure report

For example: A schedule is ended and then replaced instead of being modified. To solve the issue involving this will require finding the lease with the bad schedules. Utilizing a roll forward report along side disclosure is the best way in identifying the issue.

The system will calculate the weighted average of the remaining lease term in number of years and a weighted average of the discount rate used in those calculations.

What does this mean? In the weighted averages tab, it picks up the years remaining, and discount rate for each individual lease and determines what the weighted percentage is for the total of a particular lease.

Since weighted averages utilize the maturity analysis report, it is important to understand how information is tied into it.

Changes after the report date will display in the Maturity Analysis Report which will show all future activtiy of the schedule selected, as of the date the report is run, not from the date of the report. If there is a remeasurement or some other action the maturity analysis will not be tied into the disclosure correctly. Since the weighted averages use the maturity analysis report for its information, errors will be reflected here as well.

As mentioned earlier, the Maturity Analysis section is essentially what’s due in the future and is separated out by Finance and Operating leases based on your selections in the options when running the report.

For a quick overview, this section will show itemized rows for the first five years, then a total for every year thereafter. These rows illustrate the cash paid over time, and this is the liability on the books for all those future payments. The difference between the two is the discount factor.

But what if the numbers are not correct in this section? In some cases the number is positive, meaning the liability is more than the total of future payments. Typically this means a modification has been done to the lease schedule and the system is not picking up all the future payments.

Example: The current date is January 1, 2023, and the lease is going to run until November 2023. The maturity analysis tab will show a given liability and all future payments until end of November 2023. However, on Feb first, the lease is modified so there is an additional 5years of term on the lease. Now, the original schedule only runs until the end of January, and it’s picked up by the new schedule created by the modification starting February first, running all the way out to the future date in five years. The liability will still reflect all the payments that were supposed to go until the end of November 2023, but the maturity analysis, will only show the payment for January due to the modification. This scenario will make the liability larger than the cashflows, resulting in the discount being a positive number.

To avoid this, run the report as close to the report date as possible. If feasible, a company should close the recently ended period, and run reports before processing updates for the subsequent period. The maturity analysis will capture those changes.
Disclosure Tab

It is important to check the right of use asset for accuracy.

Please Note: Operating leases under 840 did not appear on the balance sheet as an asset or a liability, but the liability did exist prior to the transition. The key is that the transition does not create the liability, it only places it on the balance sheet, therefore it is not included in the roll forward.

Right of Use assets will include new leases generated during the term, but also include amendments, changes, and/or modifications to existing leases (15:43). Within the Disclosure report however, the ROU asset tab does NOT include transition calculations.

For example. Let’s say you have a lease that has a $1 million dollar right of use asset, and it has burned down to the last $100,000 in the term. The lease is going to renew for an additional million dollars, which will require a modification. The new right of use asset as of the modification date will now be 1.1 million dollars. This accounts for the leftover amount from the original asset plus the amount for the new asset from the modification.

However, what will display in the disclosure report will only show $1 million dollars because that is the new right of use asset in exchange for the new liability. PPT

Also overlay image of disclosure tab w/ ROU asset highlighted

Key Takeaways

This concludes our course on Advanced Disclosure Report training with VLU.
Remember….

• Ensure the lease filters and options are correct before running the report
• Disclosure reports only include new right of use asset and new liabilities in the report
• The disclosure report does not replace the roll forward report
• Run the report as close to the end of the year as possible

Thanks for watching. Questions, suggestions, or feedback can be sent to support@visuallease.com.

Intro

Welcome to Roll Forward Troubleshooting with VLU. This video will provide the step to take when trying to determine a discrepancy in the Roll Forward Report
By the end of this course, you should be able to:

• How lease filters can affect the report
• Common errors and how to drill down starting from a high level.
• And additional tips to ensure the report is correct each time its ran.

Please Take a moment to review the agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

Setting Options

In this video, we will go over what configurations to check when running the roll forward report

Note that the settings we will be using here are only for trouble-shooting values given in the Roll Forward report, and may not be appropriate for other uses, including disclosure. You will need to compare the results with your ERP and consult with a CPA for guidance on disclosure.

Many problems on a Roll Forward Report can be avoided by ensuring the information is entered correctly before generating the report. However, if there are issues in the report, there are some elements to check in the options.

In many cases, the user may miss or only accept the default lease filter options on the left-hand side. In many cases, a pending lease should not be included on a roll forward report. Instead, uncheck the Pending box, and ensure Active and Expired are selected. Why select expired? Because you may have a lease that expired during the time frame the report is run, and it still needs to be accounted for.

Next, check the date range for the report and make sure you have selected the appropriate dates. Note that there are small differences in how the platform calculates annual and monthly ranges. A custom date range of January to December may not give the same results as choosing the Calendar Year option.

We recommend using the preset options whenever possible.

Check that the correct accounting standard is selected. Only one standard may be used for the report.

Next, ensure that the correct calculation statuses are included.

Calculations with the status of Active, Historical, and Historical Correction Adjustment contribute to your financial history and should be included. This includes leases that have naturally expired even though they are no longer active.

The remaining three options should not be checked for a roll forward report.

• Historical Correction Full Reversal calculations should not be included since they are accounted for in the corrected calculations. If the Full Reversal calculations are included, it may double-count those financial entries.
• Hypothetical & Pending – Its not meant to be sent to your ERP system since it is not active and should not be included in a roll forward report.

Make sure that the currencies are the same for both your ERP and roll forward report.

If Functional Currency is enabled for the account, you should not select the report option for Current Spot Rate for Non-monetary assets. Both functional currency and currency spot rate cause the platform to calculate an exchange rate, and they will interfere with each other if both are used.

If the functional currency is not enabled, the box should be checked.

If no obvious solution can be found, try selectively removing leases from the report using the lease filter until the discrepancy disappears. The lease or leases removed were probably responsible for the problem.

Generated Report – Recurring Themes/Errors

In this video, we will look within the Roll Forward report to eliminate discrepancies between the report and your ERP records.

Before beginning your search through the report, consider where in the report you see the discrepancy. You will only need to search through areas that contribute to that part of the report.

The first recurring error often seen, is surrounding corrections and how they are handled. If the fix/or correction is the wrong type of fix, it will undoubtedly lead to errors in the report.

For example, a user has a transaction with many errors. And the user does not want to terminate the lease because it would cause a gain or loss to be recognized. Instead, the user ends the calculation and replaces it with a corrected calculation without properly terminating it.

Without terminating the lease, the ending balance will continue to hang in the report and skew the numbers.

Another error is the system shows a different Right of Use Asset than the report. To check this, confirm the balance on the Roll Forward tab is the same as the ROU balance on the ending balances tab. If there is a discrepancy we will have to troubleshoot where those values are different by looking at the following tabs for the differing values: Beginning Balance Tab, ROU Assets Tab, and Amort, Interest, and Payments Tab.

The first place to look for the discrepancy is in the Right of Use asset or the short-term or long-term liability. It may only exist in one place and not others, or it may exist everywhere. Looking at these will help identify the scope of the discrepancy.

The most likely candidate for this error is adjustments. For example, if there is a discrepancy to the ROU Assets. Check non-standard calculations like modifications, terminations, and other types of corrections.
Pay close attention and check to see if the lease is identified twice. It could show up as a new lease or a transition lease.

If finding the discrepancy proves to be very difficult or confusing, we can also apply filters to the tabs of the report. When applying the same filters to all tabs of the report you will only show a single lease or any filter criteria you select to review within the spreadsheet. When selecting filters, the values will change on the roll forward tab due to the report being dynamic.

Once a lease is narrowed down, the next action to take is to open the record and compare the values. Look inside the lease on the lease accounting page, to pinpoint where exactly the values are not correct.

You can reduce the number of entries by running monthly reports and comparing the beginning and ending balances versus running a report, say, every 6 months. If the ending balance of one month does not agree with the beginning balance of the following month, the error is likely within either of those months.

It may be necessary to use a pivot table to compare data in the report. Pivot tables rearrange the selected data so that you can easily sum and compare columns of information.

The recommended columns to include are: Ending Balance, Beginning Balance, Right of Use Changes, Amortization, and a column to calculate the difference. To locate issues, start with adding Beginning Balance + ROU Asset changes – Amortization. Then subtract that number from the ending balance. The result should be zero, if it is not, that’s where your issue is.

In Summary. The process to figure out find the discrepancies in the roll forward report should be to work at the macro level and drill down to the granular level. Some of the ways to do this are as follows:

1. Tie out the Ending Balance to Summary Report to see where the discrepancy is.
2. Where is the difference? ROU/Liability? Is it somewhere else?
3. Check Adjustments -Nonstandard Items
4. Is the lease identified twice? After a modification check and see if the lease is identified twice and if it needs to be linked or unlinked.
5. Filter the tabs on the spreadsheet to isolate the problems
6. Find the lease, identify inconsistencies in the calculations.
a. For example, on the reclass tab, monthly liability reclass should be in balance
b. Check and see if duplicates were accidentally made for the month between long term or short term liability.
7. Run the report monthly to easier pin point the period where the discrepancy took place. 8.

Key Takeaways

This concludes our course on Roll Forward Troubleshooting.

Remember:
– To find a discrepancy, it’s important to check various aspects of the report, beginning at the highest level.
– Incorrect lease filters may result in incorrect information in the report.
– Including expired leases in the report is important because they still need to be accounted for.
– And the Right of Use Asset and/or Liability is a good place to start when looking for a discrepancy

Thanks for watching. Questions, suggestions, or feedback can be sent to support@visuallease.com.

Welcome to Lease Accounting Reports training with VLU. This course is designed to introduce you to Lease Accounting Reports in Visual Lease.

• By the end of the course, you should be able to:
• Read a Lease Accounting report
• Configure the report
• Select the leases to be in the report

Take a moment to review the agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

In this video, we will explain the use of lease accounting reports and a general overview of the excel report created within the Visual Lease Platform.

Before we get started, it is important to discuss what exactly the Lease Accounting report does, and does not do.

First, what is the intended purpose of the lease accounting report

A lease accounting report contains a basic breakdown of the information entered into Visual Lease within a date range, or all dates.

It can be used to maintain and verify your records and compare lease records for financial analysis.

Next, it’s important to note what the report does not do

The lease accounting report is not designed to be used as a roll-forward report. The platform has a dedicated report specifically for that purpose.

It does not account for extraordinary events such as Impairments or Terminations.

Let’s take a look at the report.

To access a lease accounting report, navigate to the reports drop-down in the main menu and select Standard Lease Reporting. You can select Lease Accounting here as well as any options.

Once the report is open you will be presented with 3 tabs.

• The Report Criteria tab of the report shows the criteria used to select the leases included in the report.
• The Calculation Inputs tab shows the information used for each lease schedule calculation.
• The Lease Schedule tab contains a breakdown of the calculated schedules for the selected date range.

Additional tabs may appear depending on the reporting criteria and the specifics of the included lease records.

In this video, we will explain how to select the leases to include in your report. This will include setting criteria filters to include specific types of leases, and how to choose from a fixed set of leases from a list.

Under Lease Selection in the sidebar, choose whether to create your own list, or filter leases based on criteria. When Based on Criteria is selected, the sidebar displays several categories of information you can use to create a filter.

With the right criteria you can automatically select the records you need. For example, a company may have leases spread out across the country. Here, I can choose only leases within one state. Then, I can choose only records with an Operating lease, and only include active leases.

Once your criteria have been chosen, click Set Criteria, or Click Reset to clear all selections.

If you have previously saved a filter in the Lease List module, you can click Load Saved Filter to quickly load that filter to use.

The filter being used for this report will appear here, under Lease Filter Criteria. These are the criteria we used in the example earlier. Individual criteria can be removed from the filter using the X found here.

You can view the leases that fall within the filter by clicking here. A new panel will display with your lease filter results. Click Hide leases to close this panel.

You can manually create a list of leases by selecting Fixed List of Leases under Lease Selection.

The criteria options disappear from the sidebar, and a search field appears here, where you can enter lease IDs.

This field features a predictive menu that will display matching lease IDs as you type.

Select which leases to include in the report. The list appears just below the search field.

Once the criteria or individual records are chosen, and the report options are configured, click Generate Report to create the Excel file for the report to be saved locally. If you click Email Report, VL will email a copy of the file to you after it has been generated. Save Report will save the report in the Integrations Hub.

In this video, we will explain how to configure a Lease Accounting report based on the report options panel within the standard lease reporting page.

To access a lease accounting report, navigate to the reports drop-down in the main menu and select Standard Lease Reporting.

Select the lease or leases you wish to report on by entering it in the field or by selecting criteria here.

For this video, we will select from a fixed list of leases by typing into the field and selecting the lease or leases from the list.

In the Report type section, select Lease Accounting.

In the Report Options below, you can configure the report to show the information you need.

Select which accounting standard or standards you would like to be in the report.

You can also select s date range; or, click Show All Dates to include all dates available for the selected leases.

Select which calculation statuses should be included in the report. Although disclosure reports should only include Active and certain Historical calculations, you can use the Lease Accounting report to review any calculations created in Visual Lease.

If the lease records use multiple currencies, the report may show the currency used for that lease record, or you may report all of the records as one selected currency.

If a reporting currency is selected, the Report will remeasure the line items property but will not capture the translation adjustments (with the exception of Total Liability). Those translation adjustments are necessary to properly balance the period over period changes.

You may also select to use a current spot rate for non-monetary assets.

Please Note: If functional currency is enabled for your account, we recommend that you do not select Current Spot rate, as this may have unexpected effects on certain calculations.

Also note: if GASB 87 is selected for the accounting standard, this section will not display on this screen.

Once you select your options, click generate report to create a CSV file of the report. Please refer to the overview to learn more about the report itself.

This concludes our course on Lease Accounting Reports.

Remember:

• The Lease Accounting report is for your own records, to review records entered into Visual Lease.
• The report can be configured to show specific accounting schedules for the selected records.
• You can select lease records either using criteria or by creating a fixed list.

Thanks for watching. Questions, suggestions, or feedback can be sent to support@visuallease.com.

Welcome to FASB/IASB Disclosure Reports training with VLU. This course is designed to introduce you to Financial Reports for FASB and IASB Disclosures in Visual Lease.

By the end of the course, you should be able to:

• Understand the FASB/IASB Disclosure Report
• Determine what leases to include in the report
• How to configure and generate the report
• How to read the report

Please Take a moment to review the agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

In this video, we will explain the use for FASB/IASB disclosure reports, an overview on how to generate the report, and a high level tour of the report

The FASB/IASB Disclosure Report is the primary document needed to verify compliance with ASC 842 or IFRS 16. The report is created from calculations set up in the Lease Accounting module.

To get to the FASB/IASB Disclosure report, navigate to the reports drop-down in the main menu, then select Standard Lease Reports.

Select from a fixed list of leases or a criteria, then select FASB Disclosure Report, here.

Enter your options and when ready click, Generate Report to download a PDF or Excel spreadsheet.

Let’s take a look at the layout of the report.

Up to three date ranges can be displayed in one report. The dates selected are shown at the top of its assigned column, here. The column below gives the detailed numbers for that financial period.

The left side of the report provides the context for the amounts given on the right.

You can include a summary of the reporting criteria attached to the report. This will be the last page of a PDF, or a tab of an Excel spreadsheet.

If the report is generated as an Excel spreadsheet, you can include a breakdown of the supporting data used to generate the report. The data is organized into labeled tabs within the Excel spreadsheet.

Use the supporting data to verify the integrity of your records and the report generated from them.

In this video, we will explain in more depth, how to select the leases to include in your report using either Criteria based selections or a fixed list of leases you can choose from.

On the standard lease reports page you will see the Lease Selection in the sidebar. Choose whether to select leases from a list, or filter leases based on criteria.

When Based on Criteria is selected, the sidebar displays several categories of information you can use to create a filter.

With the right criteria you can automatically select the records you need. For example, a company may have leases spread out across the country. Here, I can choose only leases within one state. Then, I can choose only records with an Operating lease, and only include active leases.

Once your criteria have been chosen, click Set Criteria. Click Reset to clear all selections.

If you have previously saved a filter in the Lease List module, you can click Load Saved Filter to quickly load that filter to use.

The filter being used for this report will appear here, under Lease Filter Criteria. These are the criteria we used in the example earlier. Individual criteria can be removed from the filter using the X found here.

You can view the leases that fall within the filter by clicking here. A new panel will display with your lease filter results. Click Hide leases to close this panel

You can manually create a list of leases by selecting Fixed List of Leases under Lease Selection.

The criteria options disappear from the sidebar, and a search field appears here for you to enter lease IDs.

This field features a predictive menu that will display matching lease IDs as you type.

Select which leases to include in the report. The list appears just below the search field.

Once the criteria or individual records are chosen and the report options are configured, click Generate Report to create the Excel file for the report to be saved locally. If you click Email Report, VL will email a copy of the file to you after it has been generated. Save Report will save the report in the Integrations Hub.

In this video, we will explain how to configure a FASB/IASB disclosure report using the report options panel on the standard reporting page.

To begin, navigate to the standard lease reports page. Select your lease criteria or from a fixed list of leases.

In the list of available reports, choose FASB Disclosure Report.

In the Report Options below, you can configure the report to show the information you need.

Select your date range for each column. Up to three columns can be selected. For the first column, choose whether to report the Fiscal year, calendar year, quarter, or a custom range. When using a custom date range, only one can be included in this report.

If used, the other columns will use the same period – if the first column reports a fiscal year, then every other column must also report a fiscal year.

For fiscal or calendar year, type the four-digit year into the appropriate box. For quarter or custom range, choose the date or dates.

Select which accounting standard to use for the report.

Please note, only one standard may be used for the report.

Select which calculation statuses should be included. Although disclosure reports should only include Active and certain Historical calculations, you can create reports with Historical, Hypothetical, and Pending calculations for testing and comparison.

Select the calculation statuses to be included in the report. These include Active, Historical, and Historical Correction – Adjustment Calculations.

Typically, you will not include in the report: Historical Full-Reversal, Pending, or Hypothetical. These only remain available for internal analysis only and should not be publicly

displayed.

Next, choose which lease types should be included in the report.

If the lease record uses multiple currencies, the report may show the currency used for that lease record, or you may report all of the records as one selected currency. You may also select to use a current spot rate for non-monetary assets.

If functional currency is enabled for your account, we recommend that you do not select Current Spot rate, as this may have unexpected effects on certain calculations.

Finally, select the output type as a PDF or Excel spreadsheet. Spreadsheets should not be submitted for disclosure and are only used to verify your data.

When outputting to Excel, you can select to include supporting data in the report. For either output type, choose whether to attach a summary of the report criteria.

In this video, we will go over important details regarding how to read the FASB 842/IASB disclosure report.

Before we get started, it is important to note that the disclosure report is NOT a replacement for a roll over report. If you are looking for the total ROU values, you will need to run the Roll Forward report within the visual lease platform.

To get to the FASB/IASB Disclosure report, navigate to the reports drop-down in the main menu, then select Standard Lease Reports.

Select from a fixed list of leases or a criteria, then select FASB Disclosure Report, here.

Enter your options and when ready click, Generate Report to download a PDF or Excel spreadsheet.

Once you have the report open, you will see 3 Primary sections.

Expense section, Other Information section, and the maturity analysis section.

In the expense section, the first five items include the expenses recorded for every one of your leases included in the report, not the cash paid. This example is a finance lease so it will include Amortization of ROU assets and interest on lease liabilities as well as Operating lease expenses, short-term lease expenses, variable lease expenses, and sublease income.

It’s important to note, the row numbers may differ depending on the expenses listed in the category above. In the Other information section. Row 6 is for any sale or lease buy back.

Row 7 displays the cash flows associated with every lease in the report. They may not line up with the Operating Lease Expense, but each individually are important information.

Row 8 contains the ROU Assets obtained in the exchange for lease liabilities.

Please note this row is only representing the impact of non-financial transactions. This will only reflect changes such as new leases being brought on or remeasurements under the new 842 standard. It will NOT reflect leases that transition from 840 to 842 in these amounts due to the 840 standard not tracking right-of-use assets.

Nor does this section display the full amount of the Right of Use Asset. It only displays the numbers from new leases and modifications that are under the 842 standard.

In some cases you may see a negative number in this section. There are various ways this can happen. For example, a remeasurement was performed to shorten the term of the lease, this would result in a negative number being displayed.

Rows nine and ten will display the weighted averages based on the remaining term and discount term.

The Maturity Analysis functions a lot like it did under standard 840. There is only going to be maturity analysis per report. The analysis will display the day after the last fiscal year selected on the report.

For example, if I select 2021, 2022, and 2023 for the fiscal years on the report, the maturity analysis will begin on January 1, 2024

The analysis will display the next five years only and then the remainder of the term in the “thereafter” section.

The amounts displayed here will be the cash paid on those dates in the future.

The Total amount will include what the lease liability is for the leases through the last day of the date selected in the report. In this case, it will be December 31, 2023.

The present value discount is the difference between the cash paid in the future and the liability booked for the payments in the future. Please note, this is not done on a lease by lease basis, it is done on an aggregate basis.

A very important note: The lease disclosure report is not meant to be a roll forward report. You can see the lease liability here, but nowhere in the report is the right of use asset total value given. This report only shows activity on ROU, but that is not a balance. In order to reconcile balances, you must run the roll forward report, which is its own report.

This concludes our course on FASB/IASB Disclosure Reports.

Remember:

• The report is not a replacement for the roll forward report.
• The report can be configured to show specific accounting schedules for the selected records.
• You can select lease records either using criteria or by creating a fixed list.

Thanks for watching. Questions, suggestions, or feedback can be sent to support@visuallease.com.

Welcome to Roll Forward Reports training with VLU. This course is designed to introduce you to Lease Accounting Reports in Visual Lease

By the end of the course, you should be able to:

• Read and analyze the Roll Forward report to use it as part of your financial records.
• Configure the report to display the information you want.
• Select the leases you wish to include in the report.

Take a moment to review the agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

In this video, we will explain how to read and use the roll forward report.

A roll forward report summarizes the changes of lease accounting right of use assests, as well as shot term and long term liabilities within a period of time. It is an important part of your financial requirements under ASC 842 and IFRS 16.

Use it to assist with preparing internal and external statements of cash flows. You can also use it to reconcile the balance sheet activity as generated in Visual Lease with the balances in your ERP.

To access the Roll Forward report, select reports from the main menu, then select Standard Lease Reports.

Once on the standard lease report page, select your leases from a list or based on criteria, then select the Roll Forward Report, here. Next, select any report options Then click “Generate Report”.

Please note, when selecting the option to include supporting data, the report will include additional tabs that provide supporting evidence for the calculations used to generate the report.

Once open, the Roll Forward tab contains the main report for the selected leases.

Here, you can compare your ending balance calculated in Visual Lease with the balance in your ERP. Enter the ending balance value generated by your ERP into the cells labeled “Ending Balance for the Date Range selected – Balance per BS”.

The difference between the two systems will appear just below in the cells labeled Difference.

If included in the report, the Report Criteria tab of the report shows the criteria used to select the leases included in the report.

The Beginning Balance tab shows the beginning Right of Use and Lease Liability balances for the period prior to the reporting period.

The ROU Assets tab shows you the additions and deductions to ROU from the appropriate calculations.

Amortization, Interest, and Payments displays the activity for lease payments, amortization expense, and interest expense per period.

adjustments from the totals of each calculation’s Lease Payments, ROU Asset Amortizations, and Interest Expenses.

You will see different tabs depending on whether or not the option to track short term and long term lease liabilities was selected in the Lease Financials Defaults when your account was configured. This option is selected by default and is the most common configuration. If selected, you will see the following tabs:

• Reclass, which shows the journal entries for reclassifying between short term and long term liability
• ST LT New, Trans, which displays the short term and long term lease liabilities for new and transition calculations
• ST Mod, Term, which displays the adjustments to short term liability caused by modifications and terminations
• LT Mod, Term, which displays the adjustments to long term liability caused by modifications and terminations

If the Track Short Term and Long Term Lease Liabilities option is not selected, you will see these tabs:

Lease Liabilities New, Trans, which displays the lease liability for new and transition calculations

Lease Liabilities New, Trans: Displays the lease liability for new and transition calculations

The final tab will always be the Ending Balance tab. Ending Balance shows you each matching calculation’s ROU and liability balances as of the end of the reporting period, as well as impairment and termination reductions.

In this video, we will explain how to select the leases to include in your report.

Under Lease Selection in the sidebar, you can choose whether to base your selection off of a Fixed List of Leasescreate your own list or filter leases based on criteria. When Based on Criteria is selected, the sidebar displays several categories of information you can use to create a filter.

With the right criteria you can automatically select the records you need. For example, a company may have leases spread out across the country. Here, I can choose only leases within one state. Then, I can choose only records with an Operating lease, and only include active leases.

Once your criteria have been chosen, click Set Criteria. Click Reset to clear all selections.

If you have previously saved a filter in the Lease List module, you can click Load Saved Filter to quickly load that filter to use.

The filter being used for this report will appear here, under Lease Filter Criteria. These are the criteria we used in the example earlier. Individual criteria can be removed from the filter using the X.

You can manually create a list of leases by selecting Fixed List of Leases under Lease Selection.

The criteria options disappear from the sidebar, and a search field appears here for you to enter lease IDs.

This field features a predictive menu that will display matching lease IDs as you type.

Select which leases to include in the report. The list appears just below the search field.

Once the criteria or individual records are chosen and the report options are configured, click Generate Report to create the Excel file for the report to be saved locally. If you click Email Report, VL will email a copy of the file to you after it has been generated. Save Report will save the report in the Integrations Hub.

In this video, we will explain how to configure a Roll Forward report using the report options section of the standard lease report page of the Visual Lease platform.

To access the report options, navigate to the standard lease report page by clicking on the reports in the main menu, then selecting standard lease reports.

On the standard report page, select roll forward report from the list of available reports.

In the Report Options section below, you can configure the report to show the information you need.

Select your date range for the report by choosing whether to report the Fiscal year, calendar year, quarter, month ending or a custom range.

For fiscal or calendar year, type the year into the appropriate box. For month ending, quarter ending, or custom range, choose the date or dates.

Select which accounting standard to use for the report. Only one standard may be used for the report.

Select which calculation statuses should be included. Although most reports should only include Active and certain Historical calculations, you can create reports with Historical, Hypothetical, and Pending calculations to help reconcile your records.

Choose which lease types should be included in the report.

If the lease records use multiple currencies, the report may show the currency used for that lease record, or you may report all of the records as one selected currency. You may also select to use a current spot rate for non-monetary assets.

If functional currency is enabled for your account, we recommend that you do not select Current Spot rate, as this may have unexpected effects on certain calculations.

Finally, you can select to include supporting data in the report and whether to attach a summary of the report criteria. If you select supporting data, the other tabs in the report provide supporting evidence for the calculations used to generate the report.

This concludes our course on Roll Forward Reports.

Remember:

• The Roll Forward Report is a vital part of your financial records.
• You can compare your Visual Lease records with those from your ERP.
• The report can be configured to show the information you need.
• You can choose which leases you need to include in the report.

Thanks for watching. Questions, suggestions, or feedback can be sent to support@visuallease.com.

Welcome to Disclosure Report- GASB Training with VLU. This course introduces the financial disclosure report necessary for compliance with GASB standards.

By the end of the session, learners should be able to:

• Read and analyze the GASB Disclosure Report to use it as part of your financial records.
• Configure the report to display the information you want.
• Select which leases to be in the report.

Please take a moment to review the course agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

Topic 1: GASB Disclosure Overview

In this video, we will explain the use for the GASB Disclosure Report, an overview on generating the report, and a high-level tour of the report.

The GASB Disclosure Report is the main document needed to verify compliance with GASB 87.

The information within the report comes from the calculations set up in the Lease Accounting portion of the Financials Tab.

To get to the GASB Disclosure Report, navigate to the reports drop-down in the main menu, then select Standard Lease Reports.

Select from a fixed list of leases or criteria, then select GASB Disclosure Report, here.

Enter your options, and when ready click, Generate Report to download a PDF or Excel spreadsheet.

Let’s take a look at the layout of the report.

You can run the report against one of these types of Date Ranges:

• Month Ending
• Quarter Ending
• Fiscal Year
• Calendar Year
• Custom

The can be selected on the report options section of the standard lease report page.

The column below gives the detailed numbers for that financial period, including the beginning balance, and additions and deductions, and the ending balance.

The left side of the report provides the context for the amounts given on the right.

You can include a summary of the reporting criteria attached to the report. This will be the last page of a PDF, or a tab of an Excel spreadsheet.

If the report is generated Excel spreadsheet, you can include a breakdown of the supporting data used to generate the report. The data is organized into labeled tabs within the Excel spreadsheet.

Use the supporting data to verify the integrity of your records and the report generated from them.

Topic 2: Selecting Leases for the Report

In this video, we will explain in more depth, how to select the leases to include in your report using either Criteria based selections or a fixed list of leases you can choose from.

On the standard lease reports page you will see the Lease Selection in the sidebar. Choose whether to select leases from a list, or filter leases based on criteria.

When Based on Criteria is selected, the sidebar displays several categories of information you can use to create a filter.

With the right criteria you can automatically select the records you need. For example, a company may have leases spread out across the country. Here, I can choose only leases within one state. Then, I can choose only records with an Operating lease, and only include active leases.

Once your criteria have been chosen, click Set Criteria. Click Reset to clear all selections.

If you have previously saved a filter in the Lease List module, you can click Load Saved Filter to quickly load that filter to use.

The filter being used for this report will appear here, under Lease Filter Criteria. These are the criteria we used in the example earlier. Individual criteria can be removed from the filter using the X found here.

You can view the leases that fall within the filter by clicking here. A new panel will display with your lease filter results. Click Hide leases to close this panel

You can manually create a list of leases by selecting Fixed List of Leases under Lease Selection.

The criteria options disappear from the sidebar, and a search field appears here for you to enter lease IDs. This field features a predictive menu that will display matching lease IDs as you type.

Select which leases to include in the report. The list appears just below the search field.

Once the criteria or individual records are chosen and the report options are configured, click Generate Report to create the Excel file for the report to be saved locally. If you click Email Report, VL will email a copy of the file to you after it has been generated. Save Report will save the report in the Integrations Hub.

Topic 3: GASB Disclosure Report Options

In this video, we will explain how to configure a FASB/IASB disclosure report using the report options panel on the standard reporting page.

To begin, navigate to the standard lease reports page. Select your lease criteria or from a fixed list of leases.

In the list of available reports, choose GASB Disclosure Report.

In the Report Options below, you can configure the report to show the information you need.

You can run the report against one of these types of Date Ranges:

• Month Ending: Select the month, and year you want to report on.
• Quarter Ending: Select the month and year that ends the quarter you want to report on. • Fiscal Year: Enter a four-digit year representing the fiscal year as defined in your account.
• Calendar Year: Enter a four-digit year.
• Custom: Select the month and year that begins (left field) and ends (right field) the date range you want to report on.

Disclosure Type: The report can only be run for lessee calculations or lessor calculations separately, because the reported data is structured differently. The lessee report will show payments and amortization and the lessor will show receivables.

Select which calculation statuses should be included. Although disclosure reports should include Active and Historical calculations, you can create reports with Historical, Hypothetical, and Pending calculations for testing and comparison.

Select the calculation statuses to be included in the report. These include Active, Historical, hypothetical, and pending.

Typically, you will not include in the report: Pending or Hypothetical. These only remain available for internal analysis only and should not be publicly displayed.

Next, choose which lease types should be included in the report.

Finally, select the output type as a PDF or Excel spreadsheet. Spreadsheets should not be submitted for disclosure and are only used to verify your data.

When outputting to Excel, you can select to include supporting data in the report. For either output type, choose whether to attach a summary of the report criteria.

Topic 4: How to Read the Report

In this video, we will go over important details regarding how to read the GASB disclosure report.

Before we get started, it is important to note that the disclosure report is NOT a replacement for a rollover report. If you are looking for the total ROU values, you will need to run the Roll Forward report within the visual lease platform.

To get to the GASB Disclosure report, navigate to the reports drop-down in the main menu, then select Standard Lease Reports.

Select from a fixed list of leases or a criteria, then select GASB Disclosure Report, here.

Enter your options and when ready click, Generate Report to download a PDF or Excel spreadsheet. For this training, we will select a lessee disclosure type.

Once you have the report open, since this is a lessee report, you will see 3 Primary sections.

Lease Payments section, Leased Assets section, and the maturity analysis section.

Note: If the Disclosure type selected was Lessor, you will see Lease Inflows and a Maturity analysis.

In the lease payments section you will see the various types of payments on the lease including short-term lease payments, variable lease payments, residual value guarantees, termination penalties, and sub lease income.

The leased assets section will show all leased assets being amortized and a break down of any accumulated amortization.

Subtracting the leased assets being amortized from the accumulated amortization amount will give you the total net of accumulated amortization.

There is only going to be one maturity analysis per report. The analysis will display the day after the year selected on the report options section.

For example, if I select month ending 3/2023 for the fiscal year on the report, the maturity analysis will begin on April 1, 2023 and show the amounts through 12/31/2023 on the same row.

The analysis will display the next five years only and then 5 year tranches thereafter through the longest least term.

The amounts displayed here will be the principle, and interest paid on those dates in the future.

The Total amount will be the cash amount due in the future which includes the Principal and interest.

Additional disclosure information will include the net total of any sales or leasebacks transactions within the list of selected leases

A very important note: The lease disclosure report is not meant to be a roll forward report. You can see the lease liability here, but nowhere in the report is the right of use asset total value given. This report only shows activity on ROU, but that is not a balance. In order to reconcile balances, you must run the roll forward report, which is its own report.

Key Takeaways

That concludes our course on the GASB Disclosure Report training.

Remember…

• The GASB disclosure report should not be used as a roll forward report.
• The report can be configured to show specific accounting schedules for the selected records.
• You can select lease records either using criteria or by creating a fixed list.

Thank you for attending this course – any questions, suggestions or feedback can be sent to support@visuallease.com

Standard Payment Reports

Welcome to Standard Payment Reports training with VLU. This course will review the different payment reports related to payables and receivables within your VL platform, including the payment report, Payment activity report, and lessor aging receivables report.

By the end of this course, you should be able to:

• Recall the different payment reports listed on the standard lease reports pages
• Identify the key data points found within each report
• Describe how each report informs on an aspect of your portfolio’s health.

Please take a moment to review the course agenda. If you are looking for a specific topic, feel free to jump to the corresponding timestamp.

Payments Report

Let’s review the advantages of the payments report and the data found within…

The payments report is best used to view how your portfolio stands overall. It offers a detailed view of your account’s payables or receivables, based on your elections.

Customize your report options to include corresponding lease details, allocations, or aging data.

On the standard lease reports page, as with any report, I’ll first select the filter or list of leases I wish to run this report on. For this demonstration, I will be reporting on all active and pending leases.

In the report options section, there are 3 checkboxes: Show Lease Data, Show Allocations, and Show Aging Report.

I’ll include all options so that we can review each of them in the report.

The group & view options here mirror the options found on the Payments Sub Tab of a lease record. I will keep the default selections for this demonstration – using the system default Running Balance Start Date and the Current Month. I will also sort my report by Payee and Date.

I can run this report for payables or receivables.

I’m going to select payables and then generate the report.

Remember – as a best practice, Visual Lease recommends that your expense lease records contain only expense entries and income lease records include only income entries.

The report is generated in Excel with a series of tabs, based on my elections.

This first tab, labeled Payment Data, contains payment information for the selected leases during the date range I selected.

This includes the Record ID, the record type, category, the lessee or lessor – depending on whether I run the report for payables or receivables – the transaction ID, date, the amount of the expense or payment, the running balance, aging in days, Payment Amount, Payment Method, payment ID, and any comments supplied.

The next tab, Lease Data, provides detailed information about the leases included in the report. This is the information typically found under the General Tab of each lease.

The Payment Data with Allocations tab is particularly useful if your payments and charges are being split amongst various parts of your organization. That allocation breakdown is shown here.

The final tab is an aging report. This is where I will be able to identify any past due payables or receivables at a glance. Results are sorted by age and broken down into 4 periods: 1 to 30 days, 31 to 60, 61 to 90 and more than 90.

Payment Activity Report

Let’s review how to pull a Payments Activity report and some of the key benefits this report offers…

The payments activity report presents data on a lease-by-lease basis. This is particularly useful if for reconciling payments against individual lessees or lessors.

Due to its PDF format, it is an excellent method for creating statements to send to the other party.

On the standard lease reports page, I will ensure that the correct filter or leases are selected, click the radio button next to Payments Activity and review the Report Options that appear below. You will notice that the options are the same as the Payments report, with the exception of the additional sections, which are not available here.

I’m going to keep the default parameters and generate the report. This report is generated as a PDF and appears a bit like an account statement. Each payment record is itemized individually.

The lease ID and Building Name appear at the top with the address and lease term just beneath.

At the end of each lease, there is a summary of the opening balance, the amount scheduled to be paid during this time, the actual amount paid, and any remaining balance due.

Each entry can be sent as a transmittal statement with your expense payments, or – for income leases – can be part of your billing and invoice statement that is sent to your tenants.

Lessor Ageing Receivables Report

In this video, let’s take a look at the features and functionality of the Lessor Ageing Receivables report…

The Lessor Ageing Receivables report allows you to identify key details related to outstanding receivables in one unified report. The report is broken into 2 main sections: Summary and Details.

The summary aggregates the receivables and groups the results by organization. This allows you to easily identify total payments expected vs received in a given timeframe and breaks outstanding balances into buckets based on length of delinquency.

While the detailed view provides the specifics of each transaction including:

Which tenants have outstanding balances due

The amount outstanding

Exactly how overdue each transaction is in days.

From the standard lease reports landing page, select the Lessor Ageing Receivables Report radio button.

First, determine which leases to include in the report by loading a saved filter, setting new criteria, or creating a new fixed list.

Remember, this is a Lessor report, so it will only return records with Income transactions.

Next, set the report options:

Running Balance Start Date: any outstanding balances before this date will not be included in the report.

Financial Date Range: this is the period you are evaluating. Transactions outside of this timeframe will not appear in the report.

Organizations to Display: Select the checkbox to include all organizations in your platform or pick and choose specific organizations to include from the tree. Report results can be sorted and filtered based on the organization.

When you’re ready, click the Generate Report button.

The report is comprised of 3 tabs- the Summary Tab, the detailed report tab, and the report criteria tab.

The criteria tab summarizes the report options that you selected within the platform.

The summary tab aggregates data for each Organization included in the report, grouped by Organization.

Based on the report options you selected, it displays the total payments received -, the total receivables due, or the expected income for before any applied payments, during this time. And the outstanding balance due. This balance is also broken out to display past due amounts by 1-30 days, 31-60 days, 61-90 days and greater than 90 days.

The details report tab holds the raw data that is aggregated on the summary tab. From here you can view details about each transaction – including organization, lease ID, tenant name, Record type (Opening Balance, Lease Income, or Inbound Payment), financial category, and payee.

To the right, I will also see the payment transaction details – the scheduled date, the scheduled and actual amount paid, the running balance and ageing in exact days.

Key Takeaways

This concludes the Standard Payment Reports Course.

Remember…

• The Payments report is best utilized for a detailed view of your portfolio’s accounts payables and receivables.
• The Payments Activity report is most often used for creating invoices to send to your lessees.
• The Lessor Ageing Receivables report provides breakdowns of key details related to outstanding receivables.

Thank you for your time. Any questions, suggestions, or feedback may be sent to support@visuallease.com.