Lease modification
When the lease agreement changes, you can use the to update the term or the lease payments.
Lease modification after lease payment was invoiced
You can process a lease modification for a period that already has an invoiced lease payment when both of these conditions are met:
- The modification date is after the payment due date for the invoiced period.
- No lease payments have been invoiced for future periods.
If the payment for the modification period has been invoiced, a confirmation message prompts you to confirm whether to continue with the modification.
When you continue with the modification, the system recalculates the lease amortization beginning with the next period. The recalculation keeps the already-invoiced payment period intact and applies the modification from the next period.
After the modification for the invoiced period is released, the lease invoice for that period cannot be deleted or canceled.