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 Leases > Administration > Setup.
  2. In the Lease Type panel, click Create.
  3. Select the Classify Based on Term check box.
  4. Click Save.
  5. Navigate to Leases.
  6. Click Unreleased tab and open a lease record.
  7. On the Main tab, specify this information:
    Type
    Select a lease type that is classified based on term.
  8. Click Save.