Lease Addition and Adjustments (LM21.1)
Use Lease Addition and Adjustments (LM21.1) to manually add a lease into the Lease Management application, to modify an existing lease, or to release a lease. If you are accruing the percentage rent portion of your lease payment, you must include an Accrued Rent Account company, accounting unit, account, and subaccount.
More Information
You can click the Override button to open Overrides (LM22.1) and enter a lease classification. If you are not certain of the lease classification, you should run the FAS 13 test.
If your lease involves land with or without a building, you must provide the appropriate information on the Lands form tab.
Before you can run the FAS 13 test, you must define a payment schedule for the lease.
If your lease is associated with a leased asset, you must release the asset before you can release the lease.