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Month 1 - Transaction Details

Accruals are accounted based on the financial product associated to the contract
Accounting is generated based on the accounting tempate set (ATS mode) or accounting template set (AMB mode) associated to the financial product. Review the accounting templates defined in the accounting template set. Journals without accounting templates are generated by downstream applications - receivables, payables or assets

Transaction	Details
Booking	contract is authored. Contract status is updated to booked
	streams are generated. Review stream details for each contract element from the links on the contract scenario
	accounting journals are created
	Accounting Template	Debit / Credit	Account	Amount	Notes
	Booking Asset Cost	Debit	Asset Clearing	204,000.00
		Credit	Lease Funding	204,000.00
Asset Creation	Assets are created for fiscal and tax reporting
	Accounting Template	Debit / Credit	Account	Amount	Notes
		Debit	Asset Cost	102,000.00	Asset 1
		Credit	Asset Clearing	102,000.00
		Debit	Asset Cost	102,000.00	Asset 2
		Credit	Asset Clearing	102,000.00
Funding	funding request to fund assets
	Accounting Template	Debit / Credit	Account	Amount	Notes
	Funding Funding	Debit	Lease Funding	204,000.00
		Credit	Accounts Payable	204,000.00
	Funding Legal Fee	Debit	Expense Clearing	1,500.00
		Credit	Accounts Payable	1,500.00
	Funding Vendor Charge	Debit	Expense Clearing	800.00
		Credit	Accounts Payable	800.00
Payment	check issued to asset vendor
	Accounting Template	Debit/Credit	Account	Amount	Notes
		Debit	Accounts Payable	207,300.00
		Credit	Cash	207,300.00
Billing	bill rent, security deposit and fees
	Accounting Template	Debit / Credit	Account	Amount	Notes
	Billing Rent	Debit	Receivables	10,000.00
		Credit	Revenue Clearing	10,000.00	Asset 1
		Debit	Receivables	10,000.00
		Credit	Revenue Clearing	10,000.00	Asset 2
	Billing Security Deposit	Debit	Receivables	3,000.00
		Credit	Security Deposit	3,000.00
	Billing Freight Charge	Debit	Receivables	800.00
		Credit	Revenue Clearing	800.00
Receipt	cash received to pay off all dues
	Accounting Template	Debit / Credit	Account	Amount	Notes
		Debit	Cash	23,800.00
		Credit	Receivables	23,800.00
Accrual	recgnize revenue and expense for assets, fee, service and maintainence
	Accounting Template	Debit / Credit	Account	Amount	Notes
	Accrual Rental Accural	Debit	Revenue Clearing	10,000.00
		Credit	Rental Accrual	10,000.00	Asset 1
		Debit	Revenue Clearing	10,000.00
		Credit	Rental Accrual	10,000.00	Asset 2
	Accrual Fee Income	Debit	Revenue Clearing	800.00
		Credit	Miscellaneous Revenue	800.00
	Accrual Accrued Fee Expense	Debit	Miscellaneous Accrued Fee Expense	800.00
		Credit	Expense Clearing	800.00
	Accrual Accrued Fee Expense	Debit	Miscellaneous Accrued Fee Expense	500.00
		Credit	Expense Clearing	500.00
	Accrued Amortized Expense	Debit	Miscellaneous Accrued Fee Expense	83.37
		Credit	Expense Clearing	83.37
Depreciation	process depreciation
	Accounting Template	Debit / Credit	Account	Amount	Notes
		Debit	Depreciation Expense	6,833.33
		Credit	Depreciation Reserve	6,833.33	Asset 1
		Debit	Depreciation Expense	6,833.33
		Credit	Depreciation Reserve	6,833.33	Asset 2

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