Lease Accounting

The Lease Accounting tab allows Accountants to view the status of objects in Nakisa Lease Administration, as well as access the application itself.

Accountants must define and activate the following objects in Nakisa Lease Administration before the lease can be activated:

  • Master Agreement
  • Contract
  • Lease Component
  • Activation Group

Note: If there are changes made in Nakisa Lease Administration that cause discrepancies between the rent table terms and the information in Nakisa Lease Administration, the application updates the lease once per day to reflect the changes. For changes made once the lease is active, the application deactivates the original lease and creates a new lease that is automatically activated.

For more information on approving and activating objects in Nakisa Lease Administration, refer to the Nakisa Lease Administration User Guide.

A red badge on the tab indicates that there are still objects that must be approved or activated. Green cards indicate that the object is active. Once all cards are green, you can activate your lease.

To manage lease accounting:

  1. Click to update the status of an application object.
  2. If the rent table is empty, click to associate a pre-existing lease component. The master agreement and contract are associated based on the selected lease component. Terms are transferred to the Rent Table tab after the lease is activated.
  3. Click to dissociate a lease component.
  4. Click to open Nakisa Lease Administration and complete and activate the object.
  5. Ensure that every object is activated (with all green cards).

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