The Existing Balances under Previous Lease Guidance section will only appear on step 2, Lease Payments & Classification when entering a transition lease. (What is a transition lease?)
Transition leases are those that were in place prior to the adoption of the new standard and in LeaseCrunch software. When entering a transition lease, the start date of the transition lease is entered as the same day as the Initial Application Date, not before. The start date is populated on Step 1 of Add Leases or on the Bulk Import Template.
When the start date of a lease matches the Initial Application Date of the corresponding reporting entity, the software prohibits the entry of initial Lease Incentives and Initial Direct Costs and routes entry of any pre-existing balances to 'Existing Balances under Previous Lease Guidance'. Existing Balances are those balances in place on the balance sheet as of the Initial Application Date and entered as a positive number.
If it is determined that the reason the system doesn't recognize a transition lease is because of an incorrect Initial Application Date, please see instructions to correct in our Knowledge Base article What if the Initial Application Date is entered incorrectly?