New lease expense spend categories and ledger accounts

With recent adoption of updated accounting guidance on leases, please note that new ledger accounts (6346x for lease expense) and spend categories (SC71xxx) are in use for real estate and equipment leases. Lease expenses, such as rents, are now reported with the journal source Expense Recognition.

If you ran monthly ledger or transaction reports before 2:30pm on Wednesday, August 7, your lease expenses may not have been captured. We recommend you re-run those reports.