Mass Lease Release (LM121)

Run Mass Lease Release (LM121) to run a batch FAS 13 test on selected leases and release them. LM121 also lets you release only, or run the FAS 13 test only. You can run the program for one lease, or for all leases within a company, company group, or attribute list. You can also further limit the lease selection by lease classification and by lease type. If you are accruing the percentage rent portion of your lease payment, you must include accrued rent account information. You cannot make accrued payments for capital leases or accrue the final payment on a payment schedule.

Process at a Glance

  1. Define a lease, using Lease Addition and Adjustments (LM21.1).

  2. Define a payment schedule using Payment Schedule (LM30.1).

  3. Optional. Run the FAS 13 test, using Lease Addition and Adjustments (LM21.1).

  4. Optional. Define a leased asset, using Leased Asset Quick Addition (AM21.1).

  5. Optional. Release the leased asset using Leased Asset Addition and Adjustments (AM21.2).

  6. (This step) Release the lease, using Lease Additions and Adjustments (LM21.1) or Mass Lease Release (LM121).

Processing Effect

LM121 generates a report of all leases that have been released, along with an error report of leases that could not be released. If the classification for a leased asset associated with a lease does not match the lease classification, LM121 does not release that lease.

More Information

Use release option R (Release Only) if all the leases selected by this program have been assigned a classification. You must use this option if you want to run this program for only capital leases or only operating leases.

Use the default release option B (Both Test and Release) to make sure that all leases selected by this program are both classified and released.

Use release option T (FAS 13 test Only) to determine classifications for multiple leases at a time. This option is often used for interfaced leases, because interfacing frequently involves a large number of leases and Lease Interface Adjustment (LM50.1) lets you specify a classification, but does not provide a FAS 13 test option. However, LM121 lets you run a FAS 13 test on any lease that exists in a unreleased state in the Lease Management application. You can then review and adjust individual classifications online before releasing the converted leases.

For more information on interface programs, see the online help text for Lease Interface (LM500) and Payment Schedule Interface (LM551) and the Lease Management Technical Conversion Workbook.

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