Deactivating a Contract

Once a contract has come to its end, you can deactivate the contract, and then archive it if necessary. Once deactivated, the Status changes to "Inactive".

Note: When Nakisa Portfolio Management is operating as an IFRS 16/ASC 842 compliant solution, the associated objects in Nakisa Lease Accounting Suite can be active at the time of deactivation. To properly close the contract, users must also close the objects in Nakisa Lease Accounting Suite. If the associated Nakisa Lease Accounting Suite objects are closed before the contract is deactivated, users must still deactivate the contract.

To deactivate a contract:

Click Main Menu > Contracts and open the required contract.
Click Deactivate.