Changing the Asset Instalment Amount

Asset leasing allows you to specify what part of the lease instalment applies to each asset that is attached to a lease. This is useful to determine exactly how much each asset contributes to the total cost of a lease.

You can only specify the asset instalment amount if the lease is a Financial lease, and the lease instalment type is Asset Based.

To change the asset instalment amount for assets attached to a lease:

  1. Open the lease that you want to change the asset instalment amounts for.

  2. Change to the Assets tab.

  3. Add assets to or remove assets from the lease. Choose Save from the File menu

    OR

    Choose Asset Instalments from the File menu.

    Pinnacle will open the Asset Instalment Amounts window.

  4. If the total of the asset instalment amounts for the assets attached to the lease does not equal the lease instalment amount, Pinnacle can automatically correct the asset instalment amounts for you. If you choose to automatically correct the asset instalment amounts, Pinnacle will divide the lease instalment amount by the number of assets attached to the lease, and will set this to the asset instalment amount for each asset.

    If you choose not to automatically correct the asset instalment amounts, no change will be made to the existing asset instalment amounts.

  5. Pinnacle will display the assets that are attached to the lease, the asset instalment amount for each asset, and what percentage of the lease instalment amount it represents.

  6. You can change the asset instalment amount for any asset, and Pinnacle will automatically recalculate the percentage. Or you can change the percentage for the asset, and Pinnacle will automatically recalculate the asset instalment amount.

  7. When you have finished making changes to the asset instalment amounts, click Save.

    Pinnacle will check that the asset instalment amounts add up to the lease instalment amount. If the amounts do not match, Pinnacle will display an error message. The total asset instalment amount must match the lease instalment amount before you can save your changes.

    NOTE: The total percentage may not add up to 100.00 due to rounding, but this will not affect the ability to save changes to the asset instalment amounts.