Changing the lessor

You can change the lessor or vendor on a lease at any time during the life of the lease. The existing payment schedule changes to the new lessor. The change is recorded for audit.

Previous lessors on a lease are known as Historical Vendors, which you can review by running Lease Audit Report (LM135).

  1. Select Lease Addition and Adjustment (LM21.1).
  2. Click Inquire.
  3. On the Payment Schedule tab, in the Payment Vendor field, select the name of the new lessor.
  4. Click Change.