Lease Types can be created and maintained on this frame to be assigned to units on the Unit Accounting frame.
Create
To create a new Lease Type, enter the new type in the Type field. This field has a limit of 20 characters. Enter a description for the new lease type. This field has a limit of 40 characters.
The rest of the fields are optional. Enter the necessary information for your organization.
Lease Layout – enter a Lease Layout or double click in the field to select one from the list of values (LOV); these codes are maintained on the Lease Layout frame.
Vendor – enter a vendor number, must be a valid vendor on Vendor Main.
Effective Date – enter an effective date for the lease type.
Term – how long the lease will last.
Rate – enter a percentage for the lease rate.
Mgmt Fee – if any fee is associated with management of the lease, enter it here.
Update Date – read-only, will update with the date when changes are made to the original lease information.
Interest Method – free form field to track interest information.
Extended Rate – if the lease can be extended and there is a new rate associated with the extension, enter it here.
Once you have entered all the pertinent information for the Lease Type, click the Save button. The new Lease Type will now be available for use.
Modify
To modify a Lease Type, type it into the Type field or select it from the LOV. Make any necessary changes to the fields you want to edit. Click Save to update the record.
Disable
To disable a Lease Type, select ‘Yes’ from the Disabled drop down to the right of the description field. Click the Save button to disabled the Lease Type.
Delete
You can delete a Lease Type provided it is not in use on any other tables in the system. If the code is in use, you will not be able to delete the Lease Type.
Last Update: 06/06/2016
NOTE: To view a list of System Flags and Role Privileges that may impact this screen, hover over the screen title in M5 to display the bubble help/tooltip. At the bottom of the bubble help/tool tip, there is a Settings hyperlink. Click that hyperlink to display the list of flags and privileges.
Additional training and technical documents on this subject may be available in the Resource Files area.