Lease Determination

Once a contract has been created, Lease Administrators or Accountants must fill out the lease determination questionnaire to determine the lease type.

Based on the answers provided, the application displays the suggested lease type on the Lease Determination page, which can be overridden on the Definitions page. The lease types are:

  • Lease contract (fixed terms only)
  • Lease contract (fixed & variable terms)
  • Short term lease, where no assets will be created.
  • Low value lease, where no assets will be created.
  • Non-lease service contract, where no assets will be created.
  • Non-lease contract, where a contract and lease component will be created but will not have any activation groups or units. 

This page can only be filled out at contract inception, when the Contract Phase is "Initial" and the Contract Status is "Define".

To fill out the lease determination questionnaire:

  1. Open the contract, which loads the Lease Determination page by default.
  2. Record the appropriate answer for each question.
  3. Based on the answers, the application shows the Suggested Lease Type value. Note that the lease type can be overridden on the Definition page.

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