FRS 102 Amortisation Schedule Explained
The amortisation schedule shows how your lease liability and ROU Asset change over the lease term.
Column Definitions
Understanding each column:
| Column | Description |
|---|---|
| Period | Sequential number starting at Period 1 (lease commencement). A Period 0 row appears only when a payment is due on the commencement date: it discloses the FRS 102.20.49 step from gross to net initial liability and accrues no interest. |
| Payment | Cash paid to the lessor in the period, shown in the month it is paid |
| Opening Liability | Balance at start of period |
| Interest Expense | Opening × periodic rate |
| Principal Reduction | Payment - Interest |
| Closing Liability | Opening + Interest - Payment |
| Depreciation | Monthly asset depreciation |
Which month shows a payment
Each payment appears in the month it is paid, so a month-end closing liability includes any rent still owed that day, as the journals record it. On a lease paid in arrears on the 1st, January's rent is paid on 1 February and appears in February's row: the first month shows interest and depreciation only, and the last month has two rows, one for the previous month's rent paid on its 1st and one for its own rent paid on the lease end date, so each row carries a single payment date. On any other payment day, or on the Quarter Days, a payment appears in the row that ends the day before it. Interest and depreciation are the same either way. An early termination part-way through a period keeps that period up to the termination date, with its share of interest and depreciation. A rent owed at an early termination and paid after it appears as a one-day settlement row on its own date.
Sample Schedule
First 3 periods of a lease paid monthly in arrears on the 15th:
Amortisation Extract
Very long leases and the schedule length cap
Lease terms up to about 1,010 years are supported. For long leases the per-period schedule is capped at the first 1,200 monthly periods (about 100 years). This cap applies to the on-screen schedule and to the CSV and Excel exports alike, so exporting does not return rows beyond 1,200. Beyond that point the schedule is truncated at the materiality horizon (FRS 102.2.11) with an on-screen banner, because the present value of payments that far out is immaterial at the lease discount rate. The truncation is display only: the lease liability and all balance sheet and disclosure figures are still calculated over the full contractual term, so the reported numbers remain correct. Example: a 165-year monthly lease has 1,980 periods; the schedule and export list the first 1,200 while the figures reflect all 1,980.
Generate your amortisation schedule
See a complete month-by-month breakdown of your lease.