This activity is used to modify the calculations in an amortization schedule by clicking Modify Amortization Schedule on Lease Accounting Contract page.
Enter the installment due date on which the present value of minimum lease payments should be calculated in the Modify Date field. When the given date does not fall in to a specific due date of an installment in the Amortization Schedule, the next possible installment due date is considered for the Present Value Calculation.
In order to modify an amortization schedule, the following must have been completed:
As a result of this activity, the calculations in an amortization schedule will be updated to reflect the future cash flows and the present value calculations therein.
Also, it will show a difference in the Difference in Liability by comparing the Lease Liability Beginning Balance of the schedule from which the calculations are updated and the Lease Liability Ending Balance of the previous line.