Revenue Lease Terminations Import

Use the Manage Options and Terminations Import utility to simplify end of lease activities for revenue leases, including exercising or canceling options and terminating leases. Exercise a lease option to automatically put into effect the right conferred by the option; either to shorten or extend the lease. Cancel a lease option if the option wouldn't be exercised in the future. Terminate a lease, fully or partially, if the lessor or the lessee needs to break the lease early. In all cases, the contract is automatically amended to adjust billing, revenue recognition, and accounting balances; and maintain an audit of the changes. The Manage Options and Terminations utility removes or reduces the need for manual intervention during the end-of-lease processes.

To process end of lease activities:

1. Select Import Revenue Leases from the side-panel.
2. In the Action Type parameter, select Import Revenue Leases.
3. In the Subaction Type parameter, select Manage Options and Terminations.
4. Complete the remaining parameters according to your requirements and submit the process.

Revenue Lease Manage Options and Terminations Import

Business benefits include:

• Improve efficiency by performing multiple transactions through the Manage Options and Terminations import.
• Reduce data entry effort with the import utility.
• Streamline business processes by populating the import from originating systems.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: Financials  No Longer Optional From: Update 24D

Access Requirements

You do not need any new role or privilege access to set up and use this feature.