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Do the journals show the current/ non-current split?
Do the journals show the current/ non-current split?

Journal entries in Cradle do not show the current / non-current split

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Written by Support
Updated over a week ago

First of all, Cradle most definitely provides the current / non-current split of the lease liability, given it's an accounting requirement! To access this information refer to the Disclosure Report under Reports.

  • The current/non-current split can be run for any date! Thanks do Cradle's daily calculations

  • This report is available at the consolidated, company, and agreement level.

Why doesn't Cradle provide the journals as well? First, it's not necessary given you can access this information via the disclosure report. Furthermore, unlike other liabilities, the lease liability is unique as it's tied to an asset. For example, the initial recognition journal entries:

Dr ROU asset

Cr Lease liability

And the numerous journals that can occur through the life of the lease, e.g., a modification that results in the decrease of the lease liability and the ROU asset:

Dr Lease liability

Cr ROU asset

To input, the current/non-current journal split would cause additional entries and complexity that is not required.

Instead, you can run the disclosure report.

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