Creating subleases

  1. Select Lease Accounting > Leases > Subleases.
  2. Click Create and specify this information:
    Company
    Select a company.
    Head Lease
    Select a lease to create a sublease from. Only leases with a status of released will be available.
    Sublease
    Specify the name of the sublease.
    Description
    Specify the description of the sublease.
  3. In the Main tab, specify this information:
    Type
    Select a sublease type.
    From
    Specify the start date of the sublease. This must be after the start date of the head lease.
    To
    Specify the end date of the sublease. The sublease must end before or at the same time as the head lease.
    Land And Building
    Select whether the land and building classification is Land Only, Land And Building Lease, or Neither.
  4. On the Amounts tab, specify this information:
    Currency
    The currency will default to the currency of the Head Lease. Specify a new currency if the sublease currency is different from the head lease.
    Incentive Cost
    Specify the incentive cost amount. Incentive cost amounts are calculated like free rent. For example, one month free or reduced rent.
    Exchange Rate
    Specify the exchange rate between the company functional currency and the sublease transaction currency.
    Initial Direct Cost
    Specify the initial direct cost.
    Down Payment Amount
    Specify the amount that is paid to the lessor at the beginning of a sublease.
    Initial Direct Cost Vendor
    Select the initial direct cost vendor. The initial direct costs must be paid to the vendor, not to the lessor.
  5. In the Billing tab, specify this information:
    Receivable Company
    Select the receivables company.
    Sublessee
    Select the lessee of the sublease.
    Printer
    Select the printer.
    Invoice Identifier
    The invoice identifier will be filled in automatically after the sublease is saved. An identifier can be specified manually if needed.
    Deferred Asset IDC Account
    If there is an IDC amount entered, specify the account information for deferred asset IDC.
    Deferred Asset Incentive Account
    If there is an incentive cost amount entered, specify the account information for deferred asset incentive.
    Clearing Account
    If there are either IDC or incentive costs on the sublease, specify the clearing account information.
    Lease Expense Account
    Specify the account information for lease expense.
    Lease Revenue Account
    Specify the account information for the lease revenue.
    Accrued Rent Expense Account
    Specify the account information for accrued rent expense.
  6. Click Save.