Assigning asset classes to existing leases

Contract administrators and lease accountants can use the Contract Data Setup Utility for assigning asset classes to selected leases.

1. Go to Contracts > Contract Set Up > Data Utilities > Contract Data Setup Utility
2. Click Add.
3. In the Contract Data Setup Utility form, enter the name in the General section.
4. In the Details section, specify the Process Type as Assign Asset Class to Leases.
5. Set the Contract Type to either Asset Lease, Real Estate Lease, or Subscription Based IT Arrangement (SBITA).
   The Asset Class field is now visible.
6. Click Create.
   Depending on the selected Contract Type, either Real Estate Leases, Asset Leases section, Subscription Based IT Arrangement (SBITA) section is now visible.
7. Click Find.
8. On the pop-up form, select leases that will be assigned with the selected asset class and click OK and then click Save & Close.
9. Repeat steps 6 to 8 to add more asset classes.
10. Click Save and then click Process.
11. On the pop-up form, select all the journal entry setup records to which you want to assign those asset classes, and click OK.
12. Click Save and then click Process.
    The Contract Data Setup Utility record closes. Once the status of the record changes to Processed, the asset class account codes are assigned to the selected journal entry setup records. However, if the asset class already exists in the journal entry setup, the other information related to the asset class is updated.
13. Click Complete.