Terminate Lease

Basic of using ramco enterprise series web page

Using On Line Help

This activity allows you to terminate a property lease. Termination of property lease is a two step process:

Active --->  POT (i.e. Process of termination)

POC ---> Termination

The status of the property becomes “Free” on process of termination itself. The termination date is taken as the Effective To date for service billing. The lease amount from the booking date until the termination date less the amount received from the customer is displayed as the Due Amount.

The “Terminate Lease” page appears.      

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

Lease No

The number identifying the lease which is to be terminated.

 

Press <Enter> key.

The system displays the following:

Description

The description of the lease.

Status

The status of the lease number. Only lease number in “Active” status can be terminated.

Lease Type

The type of lease. It could be “Mall” or “Corporate”.

Lease Category

The category to which the lease belongs.

Commencement Date

The commencement date of the lease.

Lock In Period (months)

The lock-in period of the lease in terms of months.

Expiry Date

The expiry date of the lease.

Scheme Code

The code identifying the scheme of the lease which is to be terminated.

The system displays the following:

Scheme Name

The name of the scheme.

Customer Code

The code identifying the customer who has taken the property on lease.

Customer Name

The name of the customer.

Termination Date

The date of termination of the lease. The system date is displayed by default on launch of the page. Mandatory.

Reason

Use the drop-down list box to specify the reason for lease termination. The combo is loaded with reason codes defined for the Category – Reason in “Maintain categories” activity.

DLI as on

The delayed interest that has to be paid by the customer as on date.

Allow Receipts

Use the drop-down list box to specify whether to allow receipts from the customer or not after termination. The combo is loaded with options “Yes” and “No”.

Remarks

Any remarks regarding the termination of the lease.

Interest On Deposit

The interest on the deposit of the customer.

Interest (Deposit) A/c Code

The account code of the interest (deposit).

Generate  Cr Note

Select the check box to generate credit note for the customer.

The system displays the following in the “Lease Details” group box:

Due Amount

The due amount in the total lease amount.

Lock-In Period (Amount)

The amount that has to be paid by the customer if the lease is terminated within the  lock-in period.

Note: The lease amount from the booking date until the termination date less the amount received from the customer is displayed as the Due Amount.

Note: When the “Terminate Lease” button is clicked, the status of the lease number is updated as “Process of Termination” and the Property status becomes “Free”.When it is clicked again the lease number is terminated and the status is updated as “Terminated”.

If there are any pending dues from the customer for the services (service billing module) rendered, then the lease cannot be terminated.

The system displays the following in the “DLI Details” multiline:

Bill Type

The bill type of the document.

Document No

The  number identifying the document

Document Type

The type of the Document

Due Date

The due date for the DLI  payment.

Due Amount

The due amount that has to be paid by the customer.

Balance Amount

The balance amount that has to be paid by the customer.

Delay (days)

The number of days by which the payment is delayed.

DLI Amount

The delayed interest for due amount.

Total DLI amount

The total DLI amount that has to be paid by the customer for the various bill types.

Posting Date

The posting date of the DLI amount.