REPORTING AND INSIGHTS

QuickStart templates support Lease Accounting

We added new account categories and related account groups to the QuickStart templates to support compliance with revised Lease Accounting standards (ASC 842 and IFRS16).

Account categories

Account groups

Accumulated Amortization - ROU Asset Lease Financial Lease ROU Asset Operating Lease ROU Asset Financial Lease - Current Financial Lease - Long Term Operating Lease - Current Operating Lease - Long Term Lease Amortization Expense Lease Interest Expense

For all QuickStart templates: Accumulated Amortization - ROU Asset Lease CF_Accumulated Amortization - ROU Asset Lease CF_Change in Lease Principal CF_Changes to Operating Lease Liability CF_Lease Amortization Expense CF_Lease Interest Expense CF_Lease payments & interest Financial Lease Liability - Current Financial Lease Liability - Long Term Financial Lease Right of Use Asset Financial Lease Right of Use Asset, Net Lease Amortization Expense Lease Interest Expense Operating Lease Liability - Current Operating Lease Liability - Long Term Operating Lease Right of Use Asset Right of Use Assets, Net For General and Service Industry QuickStart templates: Lease Interest Expense DB For the Nonprofit QuickStart template, if you use the Nonprofit Financial Board Book: DBB Accumulated Amortization - ROU Asset Lease DBB Financial Lease Liability - Current DBB Financial Lease Liability - Long Term DBB Financial Lease Right of Use Asset DBB Financial Lease Right of Use Asset, Net DBB Lease Amortization Expense DBB Lease Interest Expense DBB Operating Lease Liability - Current DBB Operating Lease Liability - Long Term DBB Operating Lease Right of Use Asset DBB Right of Use Assets, Net

Details

For any new organization based on a QuickStart template, you can take advantage of the new account categories and groups right away.

For existing organizations, you will need to update existing account groups if you want to add the new categories and groups to your reports.

Before integrating these new items into your reports, be sure that you understand the reporting impact of updating existing account groups. For example, when you add an account group as a member of another account group, the new group is added at the end, but you can move it to a different position. Contact your account manager or implementer for assistance.

Update existing organizations

1. Install the new account groups (those listed in the table above) from the Account Groups library.

2. On the Account Groups page, add the new account groups or categories as members of existing account groups, as follows:

   General QuickStart

   Existing account group	New account groups or categories to add as members
   Assets	Right of Use Assets, Net
   CF_Adjustments to reconcile net loss to net cash used in operating	CF_Lease Amortization Expense
   CF_Cash Flows from Financing Activities	CF_Change in Lease Principal
   CF_Changes in Operating Assets and Liabilities	CF_Lease payments & interest
   Current Liabilities	Financial Lease Liability - Current Operating Lease Liability - Current
   Depreciation and Amortization	Lease Amortization Expense
   Long Term Liabilities	Financial Lease Liability - Long Term Operating Lease Liability - Long Term
   Other Non-operating Expense	Lease Interest Expense
   Other Non-operating Expense DB	Lease Interest Expense DB
   UK_Current Liabilities	Financial Lease Liability - Current Operating Lease Liability - Current
   UK_Fixed Assets	Right of Use Assets, Net
   UK_Interest Earnings	Lease Interest Expense
   UK_Long Term Liabilities	Financial Lease Liability - Long Term Operating Lease Liability - Long Term

   Service Industry QuickStart

   Existing account group	New account groups or categories to add as members
   Assets	Right of Use Assets, Net
   CF_Adjustments to reconcile net loss to net cash used in operating	CF_Lease Amortization Expense
   CF_Cash Flows from Financing Activities	CF_Change in Lease Principal
   CF_Changes in Operating Assets and Liabilities	CF_Lease payments & interest
   Current Liabilities	Financial Lease Liability - Current Operating Lease Liability - Current
   Depreciation and Amortization	Lease Amortization Expense
   Long Term Liabilities	Financial Lease Liability - Long Term Operating Lease Liability - Long Term
   Other Non-operating Expense	Lease Interest Expense
   Other Non-operating Expense DB	Lease Interest Expense DB
   UK_Current Liabilities	Financial Lease Liability - Current Operating Lease Liability - Current
   UK_Fixed Assets	Right of Use Assets, Net
   UK_Interest Earnings	Lease Interest Expense
   UK_Long Term Liabilities	Financial Lease Liability - Long Term Operating Lease Liability - Long Term

   Nonprofit QuickStart

   For all organizations:

   Existing account group	New account groups or categories to add as members
   990IX Depreciation and Amortization	Lease Amortization Expense
   990IX Interest	Lease Interest Expense
   CF_Cash Flows from Financing Activities	CF_Change in Lease Principal
   CF_Changes in Cash from Operating Activities	CF_Lease Amortization Expense CF_Lease payments & interest
   DCF_Cash flows from financing activities	CF_Change in Lease Principal
   DCF_Cash paid to employees suppliers	CF_Lease Amortization Expense CF_Lease payments & interest
   DCF_General and Administrative	Lease Amortization Expense Lease Interest Expense
   General and Administrative	Lease Amortization Expense Lease Interest Expense
   Long-term Assets	Right of Use Assets, Net
   Other Long-term Liabilities	Financial Lease Liability - Long Term Operating Lease Liability - Long Term
   Other Short-term Liabilities - Group	Financial Lease Liability - Current Operating Lease Liability - Current
   UK_Fixed Assets	Right of Use Assets, Net

   For organizations that use the Nonprofit Financial Board Book:

   Existing account group	New account groups or categories to add as members
   DBB Assets	DBB Right of Use Assets, Net
   DBB Depreciation Expenses	DBB Lease Amortization Expense
   DBB General and Administrative Expenses	DBB Lease Interest Expense
   DBB Noncash expenses	DBB Lease Amortization Expense
   DBB Other Long-term Liabilities	DBB Operating Lease Liability - Long Term DBB Financial Lease Liability - Long Term
   DBB Other Short-term Liabilities - Group	DBB Financial Lease Liability - Current DBB Capital Lease Obligation - Current

Requirements

Regional availability	All regions
User type	Business user
Permissions	Account groups: List, View, Add, Edit
Implementation	Organization created with a QuickStart template