Understanding Lease Information
In JD Edwards EnterpriseOne Real Estate Management system, the lease is the basis for invoices or vouchers and for receipts or payments. Use the Lease Information program (P1501) to set up information about leases that are associated with the tenants or lessees.
When you set up a lease for a tenant, you enter the name and location of the tenant, and then you specify additional information such as the area that the tenant occupies or the rental terms of the lease. Tenant leases can be as simple or as complex as necessary. In addition to regular leases and subleases, you can set up and maintain coterminous and holdover leases.
When you set up lessee leases, you can enter property and non property assets that you are leasing. You can also specify information that the system uses when creating balance sheet lessee accounting information, such as amortization schedules and journal entries.
This table describes the programs you can access from the Form menu on the Lease Master Revisions form after you set up the lease:
Program |
Program Description |
|---|---|
Log Details (P1521) |
Set up the log standards that contain additional necessary information about the lease. To reduce errors, you can copy the standard log information that is set up for the lease type by setting the Copy Log Standards processing option. (Release 9.2 Update) Additional asset-related fields have been added to the Lease Log to enable you to track information by unit (property asset) or asset (non-property asset) on lessee leases. Be aware that when you add a lease log detail line to your lease, the system automatically uses the first detail line on your lease to populate the log details. You can override these values as needed. |
Legal Clause Information (P1570) |
Set up legal clause information about the lease or tenant. You use this program in addition to or as an alternative to log standards. |
Recurring Billing Information (P1502) |
Set up billing amounts and frequencies by bill code that you use to generate recurring billings and amortization schedules for lessee leases. |
Security Deposit Maintenance (P1565) |
Set up information for security deposits that you refund later. |
Escalation Information (P15016) |
Set up information to generate rent increases based on an index such as the consumer price index. |
Sales Overage Information (P15013) |
Set up information to calculate and generate rent billings as a percentage of sales. |
E.P. Information (P15012) |
Set up information to generate billings for shared expenses, such as common area maintenance, parking, and utilities. |
Straight-line Rent Lease Setup (P15131) (Release 9.2 Update) |
Set up information that the Straight-line Rent Generation program (R15130) uses when generating or regenerating straight-line rent amounts. |
Straight-line Rent Revisions (P1513) (Release 9.2 Update) |
Review and update straight-line rent records that have been generated for the lease. |
Amortization Schedules (P15171) (Release 9.2 Update) |
Use this application to manage and update amortization schedules for assets that are being processed using balance sheet lessee accounting. |
Instead of accessing the Unit Information program (P15217), you can adjust the area of the unit directly from the lease. To access the Unit Area Adjustments program (P1514A), select a record on Lease Master Revisions form and select Unit Area Adj from the Row menu.
The system stores lease information in the Lease Master Header table (F1501B) and the Lease Master Detail table (F15017).