Creating Contracts

Once a master agreement has been approved, users can create contracts under it. Contracts can be created from scratch, or an existing one can be copied.

Note that if the header indicates that Migration Mode is ON, all objects created in or imported in to Nakisa Lease Accounting Suite are flagged as "Migrated".

Note: Click the context menu and select Add to favorites for any contract that you wish to favorite. These can be easily accessed in the Nakisa Product Center.

To create a new contract:

Perform one of the following actions:
- Open the Contract landing page and click Create in the landing page toolbar.
- Open the master agreement under which the contract will be created and click Context Menu > Create Contract.
- Open the master agreement under which the contract will be created, and click in the Contract section in the Navigation Panel:
If required, select the Master Agreement to which this contract belongs.
The Lease Area and Lease Business Unit are inherited from the master lease agreement.
In the Principal Position field, select whether this is a "Lessee" or "Lessor" contract.
Note: Nakisa Lease Accounting Suite currently only supports operating/short term lessor contracts for the purpose of subleases.
If the Company Code was not set in the master agreement, you must specify it in this pop-up.
For lessor contracts, select the Sublease checkbox if the lessor contract is a sublease of an existing lessee contract.
Enter a name for the contract.
Click Submit. Once the information is saved, the contract loads automatically.

To copy an existing contract:

Open the existing contract that you would like to copy.
Click the context menu > Copy.
Enter the Contract Name.
Click Copy.