10. Out of Service - Change Created

Editing a Lease out of Service

Once a lease is taken out of service, changes can be made to the Lease Payment Schedule. The first section that can be edited is the Lease Information tab.

To edit the Lease information:

1. Go to Lease Accounting > Leases > click on the out-of-service Lease that needs to be edited.

2. In the top right corner, click Edit.

3. Edit any one of the editable fields available:

   1. Lease

   2. Description

   3. Start Date

   4. End Date

   5. Change Effective Date

      Note: The Start Date must be the same day or earlier than the selected Change Effective Date.

   6. Lease Group

   7. Lease Class

   8. Total Lease Payment

   9. Lease Liability to RoU Asset Adjustment

   10. Vendor

   11. Discount Rate

   12. Tax

   13. Payment Frequency

       Note: You cannot change to or from Custom and Import during this phase.

   14. AP Bill Creation

4. Click Save.

Note: If any of the following fields are changed, the Lease cannot be directly Put Back into Service and will need to have the Payment and Lease Schedules regenerated:

• Start Date

• End Date

• Lease Class

• Lease Group

• Total Lease Payment

• Lease Liability to RoU Adjustment Amount

• Discount Rate

• Useful Life

• Payment Frequency

• Tax

Additionally, a non-editable field called Change Status is added to the lease. When a Lease’s Change Status is “Created,” multiple updates can be made to the Lease Info tab fields. Once the Payment Schedules are generated, the Change Status is “NULL,” and no more changes can be made to the lease unless it is taken back Out of Service. Below is a diagram of the different change statuses.