IFRS 16 - correction of prior periods

[JBHF]

Hello, just want to confirm if I am doing a right approach.
CompanyA (my company) is leasing an factory space to companyB (subsidiary) with contract of 5 years since 2020 to 2025.
Only in Jul 2023 this year, we started to apply lease accounting while before company B only paid usual rent to company A (yes, the rents were eliminated from teh group level, but that's different story).

Because we just recognised right of use and lease liability between compA and compB this year, what I did was, I work out a calculation worksheet and come up with working as if the ROU and Lease Liability were recognised since 2020 and from the worksheet, it shows me the closing balance of those two accounts as at Oct 2023 and I just did high level true up on the balance without affecting prior periods. Am I doing the right ay?

[Marek Muc]

It's a correction of prior period error, you should adjust opening balances unless the impact is immaterial. See https://ifrscommunity.com/knowledge-base/errors/

PS. You'll notice that I modified the subject of this topic, please use more descriptive subject lines in the future, thanks