Create Options

After adding the payment details on the Payments tab, you might enter the details for options on the Options tab.

Options Tab

Click New (+) to display the Create Option page.

1. The following fields are available as part of the option creation:

   Field	Description
   Payment Template	Select the payment term template.
   Supplier	Select the supplier.
   Supplier Site	Select the supplier site.
   Option Type	Select the option type. Your choices are as follows: Adjustment Allowance Bargain Purchase Construction Warranty Early Termination Expansion Fair Market Value Holdover Purchase Renewal Residual You can add more values for option type.
   Start Date	Select the payment start date.
   End Date	Select the end date, if required.
   Amount	Enter the payment amount.
   Arrears	Select arrears if the payment is made at the end of the cycle.
   Payment Purpose	Select the payment purpose. Your choices are as follows: Base Rent Cleaning Depreciation Insurance Operating Expense Rent Percentage Allowance Purchase You can add more values for payment purpose.
   Frequency	Select the frequency of payment.
   Number of Payments	Enter the number of payments.
   Currency	Select the currency of payment.

2. Click Save and Close.

You can view or add the following payment information in the Overview section:

Field	Description
Payment Template	You can view the payment template name.
Number	You can view the payment number.
Payment Purpose	Retain or change the payment purpose.
Option Type	Retain or change the option type.
Option Status	You can view the option status.
Currency	Retain or change the currency.

You can view or add the notes for the option in the Overview section.

1. Click the Note icon.

2. Click New (+) to display the Create Note page.

   The following fields are available as part of the note creation for a payment term:

   Field	Description
   Type	Leasing Activities type note is selected by default.
   Private	Select the check box to make the note private and only visible to you.

The supplier section of the Options: Summary tab on the Lease page gives the supplier information and the payment term information.

You can view or add the following payment information in the Supplier section:

Field	Description
Supplier	Retain or change the supplier name.
Supplier Site	Retain or change the supplier site.
Payment Term	Select the payment term.

You can view or add the following payment information in the Schedule section:

Field	Description
Start Date	Retain or change the payment term start date.
Arrears	You can select the check box if there are arrears associated with the payment
Frequency	Retain or change the payment frequency.

You can view the following payment information in the Options section:

Field	Description
Line Number	You can view the payment line number.
Line Type	Select whether the payment is a Stub or Recurring.
Number of Payments	Retain or change the number of payments.
Amount	Retain or change the payment amount.
Line Start Date	You can view the payment line start date.
Line End Date	You can view the payment line end date.
First Payment Date	Retain or change the first payment date.

Click New (+) or select Add from the Actions menu to add more options.

Options Tab: Accounting

You can view or add the following payment information in the Compliance section:

Field	Description
Right-of-Use	Select the right-of-use option to include the payment amount for calculation of the right-of-use for the option. Use only this check box for capitalizing expenses into Right-of-Use without liability, such as Initial Direct Cost.
Liability	Select the liability option to include the payment amount for calculating the lease liability for the option.
Intercompany	Select the intercompany option to mark the schedules as intercompany.
Discount Rate	You can view the discount rate.
Rate Adder	You can view the rate adder value.

Migration Balances

Lease Accounting displays this section if it is a migrated lease. You can select the migrated lease in the Overview tab. You have to enter the right-of-use balances for the migrated lease.

You can view or add the following payment information in the Migration Balances section:

Field	Description
Operating Right-of-Use Amount	Enter the right-of-use balance amount for the operating lease.
Finance Right-of-Use Amount	Enter the right-of-use balance amount for the finance lease.

You can view or add the following payment information in the Accounting section:

Field	Description
Ledger Name	Select the ledger name for the option.
Account Name	Select the account name for the option.
Code Combination	Select the code combination for the option.

Click New (+) to add new accounting information.

Milestones:

You can view or add the milestones for the payment in the Milestones tab.

1. Click New (+) to display the Create Milestone page.

2. These fields are available as part of the milestones creation for an option

   Field	Description
   Milestone Type	Select the milestone type. Your choices are as follows: Asset Expiry Lease Expiry Option Exercise
   Object Type	You can view the object type.
   Object Number	You can view the object number.
   Milestone Date	Select the milestone date.
   First Notice Date	Select the first notice date, if required.
   Notice Frequency	Select the notice frequency, if required. Your choices are as follows: One Time Daily Weekly Monthly Quarterly Semi Annual Annual

Options for Revenue Lease

You can create options for revenue leases but they are not calculated in the accounting. It is only used when you exercise the option.