Classifying short-term leases based on term

Use this procedure to classify a lease as an operating lease. This procedure overrides the classification test results.

  1. Select Setup > Lease Type.
  2. Create a new lease type or open a lease type record.
  3. Select the Classify Based on Term check box.
  4. Click Save.
  5. Select a lease from the Unreleased tab and open the lease record.
  6. On the Main tab, specify this information:
    Type
    Select a lease type that is classified based on term.
  7. Click Save.