Expiring a lease

You can expire existing active leases.

1. Open an existing active lease and click Expire.
   Note: The lease event JEs will be created along with a draft lease event contract summary balance record. It stores the functional currency amounts of lease event JEs for the current open period. The contract summary balance record can be accessed on the Contract Summary Balance section of the History tab of a lease.
2. On the Contract Expiration form, the Expiration Effective Date is set to the Base Lease Expiration Date. Enter the Expiration Comment in the General section.
3. The Void payments on and after expiration date? field is set to Yes as default. Change it to No if that is the preferred option.
4. Review all the information, then, click Continue.
   The lease is closed and processing begins.