Terminate Lease

This page allows you to terminate the lease.

Select the “Terminate Lease” link under the “Asset Leasing” business component.

The “Terminate Lease” page appears.

- Clicking this icon available near certain fields takes you to the help page of the respective field.

Enter the following fields in the Lease Information :

Lease No.	The unique number identifying lease preceding the renewed lease.
Lease Description	The description of the lease.
*Status*	The status of the lease.
Termination Date	The date on which lease has been terminated.
Finance Book	The finance book in which lease has been created.

Enter the following fields in the Project Information :

*Project/Sub Project OU*	Use the drop down list box to select the organization unit in which project code has been created. The combo would be loaded with the OUs to which “Project Definition” business component mapping exists.
*Project /Sub Project Code*	The project/ sub project code to which transactions are to be attached. This code should have been defined in the “Project Definition” business component and the status of the code should be either “Approved”or “Revised”
*Project/ Sub Project Description*	The description of the project/sub-project.

The system displays the following details in the Lease Asset Details :

*Asset Group*	The code identifying the asset group.
*Asset Class*	The code identifying the class to which the asset belongs.
*Asset No.*	The number identifying the asset.
Asset Description	The description of the asset
*Tag No.*	The code identifying the asset tag.
*Tag Description*	The description of the tag
*Rental Amount*	The amount of lease to be paid.
Currency	The currency in which lease amount is to be paid.
*Lease Agreement No.*	The number identifying the lease agreement no.
*Lease Rental Start Date*	The date from which lease payments have to be paid.
*Lease Rental End Date*	The date upto which the lease payments have to be paid.
*Additional Charges*	The amount to be paid due to termination of lease.
Usage ID	The code identifying the usage mapped to the account code.
Sundry Payment Voucher No.	The unique number identifying the payment voucher.
	Data Hyperlink Available.

Note: The above column would be visible when lease is terminated and Generation of payment Voucher is set as Multiple in Set Function Parameters.

Cost Center	The code identifying the cost center against which account is mapped.
Analysis Code	The code identifying the analysis code against which account is mapped.
Sub Analysis Code	The code identifying the sub analysis code against which account is mapped.
*Party Type*	Use the drop down list box to select the type of party The combo would be loaded with “Supplier” and “Other Parties-Lease".
*Party Code*	The code identifying the party.
*Party Name*	The name of the party.
Remarks	Any observations or remarks pertaining to the document.

Enter the following details in the Payment Information:

Payee	The name of the person or the organization to which the payment is being made.
*Electronic Payment*	Use the drop down list box to select whether electronic payment can be made. The combo would be loaded with Yes and No based on the Pay Modes Applicable parameter set in the Company Parameters.
*Voucher Numbering Type*	Use the drop down list box to select the numbering type. The combo would be loaded with numbering type defined for the transaction type “Sundry Payment”.
*Pay Currency*	Use the drop down list box to select the currency code in which payment is to be made. The combo would be loaded with all the currencies mapped to the login company.
Exchange Rate	The exchange rate used to calculate the base currency amount if the pay currency is different from the base currency of the company.
*Payment Point*	Use the drop down list box to select the organization unit from which payment has to be released. The combo would be loaded with all the organization units based on the component interaction module between release payment and sundry payment.
Payment Method	Use the drop down list box to select the method in which the payment has to be made. The combo would be loaded with Regular.
*Payment Route*	Use the drop down list box to select the way in which the payment has to be made. The combo would be loaded with Bank.
Payment Mode	Use the drop down list box to select the mode in which the payment has to be made. The combo would be loaded with “Check” and “ECS” when electronic payment is selected as No. When the same is selected as Yes , combo would be loaded with ABA.
Bank Code	Use the drop down list box to select the code identifying the bank accounts. The combo would be loaded with all the Bank codes defined in the Create Bank/Cash Details activity.
*Bank Description*	The description of selected bank code.
Sundry Payment Voucher No.	The unique number identifying the payment voucher.
	Data Hyperlink available.

Note : The above control would be visible when lease is terminated and Generation of Payment Voucher is set as Single in Set Function Parameters.

Click "Terminate” pushbutton to terminate the lease details.
Click “View Lease Details” pushbutton to view the lease details.
Select the “Accounting Information” link to view the account postings.
Select the “Attach Notes” link to add comments and observations and attach documents.
Select the “Collaborate” link to record or view the observations or comments or discussions regarding the document.

The system displays the following in the “Asset Group Details” multiline based on the search criteria entered:

Created By	The login ID of the user who terminated the lease details.
Created Date	The date on which the lease details was terminated. .
Last Modified By	The login ID of the user who terminated the lease details.
Last Modified Date	The date on which the lease details was terminated.