NetLease Lease Modification Before Go-Live

To modify a lease before Go-Live, the lease needs to be in a locked status. Follow the steps below to lock and modify the lease.

Step by Step Process

• Generate Schedule for the lease that needs to be modified
• Click the Edit button associated with the lease that needs to be modified and under the Accounting tab, check the box “NO GL IMPACT” under the Accounting Overrides section

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• Click Save
• Click Commence Lease
• Click Save
• Click Modify Lease and modify the lease as needed
  • Note: if the Effective Date you want is not showing up, navigate to NetLease > NetLease Setup > System Setup and update the NetLease Go-Live Date (it needs to be before your desired lease modification date)

The lease should now be modified based on your modification inputs. Follow the steps below to take the modified lease out of the Lease Locked Status

• Edit the lease and under the Accounting tab, uncheck the “LEASE LOCKED (TRANSACTIONS RECORDED)” box under the System Controls section and click Save  

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• Edit the lease again and perform the following
  • Update the “STATUS” in the Schedule Information section to Pending
  • Uncheck the box “NO GL IMPACT” under the Accounting tab and in the Accounting Overrides section
  • Click Save

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