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Approving a Lease

Once the associated terms have been entered in the rent table, the lease administrator can approve the lease. The Status changes to "Approved", and the rent table becomes read-only and can no longer be edited, unless you open the lease for modifications. Note that opening a lease for modifications does not create a lease version, as the lease has not been activated.

After the lease has been approved, the accountant can access Nakisa Lease Administration through the Lease Accounting tab to complete the accounting information so the lease can be activated.

For more information on the workflow for IFRS16/ASC842 compliance, see Rent Table and Lease Accounting (IFRS 16/ASC 842 Compliance).

To approve a lease:

Click Main > Leases in the application menu and open the required lease.
In the Actions section at the top of the page, click Approve.