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Changing from Capital Lease to Operating Lease

  • 1.  Changing from Capital Lease to Operating Lease

    Posted May 29, 2019 07:56 AM
    ​Hi
    I am fairly new to Great Plains and need to reclass some capital leases to operating leases, what are the steps I take to remove from asset card?
    Thanks
    Paul

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    Paul Galles
    Lutheran Social Service of Minnesota
    Saint Paul MN
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  • 2.  RE: Changing from Capital Lease to Operating Lease

    Posted May 30, 2019 08:32 AM
    I believe you can simply retire the asset.  Just review the JE that it'll generate to make sure it's recording the proper activity in the GL

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    Kimberly Lomax
    Manager, Financial Systems
    Rayonier
    Wildlight FL
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