Rental Standard Early Termination Details

Purpose

This will be used for all leases that recognise their income under the No Deferral Method (Rental Income), and that are not to use the NPV calculation.

Access

1. Access Lease |  | 

Dialog Details

Early Termination Input Selection

Field	Explanation
Termination Reason	[F2] to highlight and  a reason for the Early Termination This field is mandatory and must have a reason selected even if it is "NU: No Reason"  In the Termination Reason Details there is a field called "Write Off Indicator" and this required a tick if the account is to show in the Write Off reports in the Accounts System
Termination Date	Enter the date the account is to be early terminated or the date the early termination quote is to be produced for The Termination Date cannot be earlier than the last transaction date If an earlier date is entered, the termination date will be changed to be the last transaction date and the following message will display:
Add Taxes	Check this tick box if Taxes are to be added to the future instalment values that will post to the current ledger on termination This is the most usual option to take and should be
Communication Type	[F2] to highlight and  a Communication Type to be created so the details of the early termination can be recorded, and printed for the client if necessary
Mark Comm as Printed	Check this on if the early termination quote communication, entered in the communication type field, does not need to be printed This will make the communication as printed so it will not come up in the list of communications to be printed at the end of the day

Write off Input Selection

Field	Explanation
Write Off Reason	Once the Early Termination has been completed the reason will display in this field
Write Off Date	Once the Early Termination process begins the termination date will display in this field
Write Off	If any part of the termination amount is to be written off, enter that value here This field cannot be accessed if the Write Off Transaction Type has not been selected into the lease account type associated with the lease account being terminated
Default Interest Write Off	If an amount is entered here, it will decrease the termination amount Two transactions will post on termination Once will be the charge of Default Interest and the second will be the write off The net different will be zero if the write off amount if the same as the default interest amount This field cannot be accessed if the Write Off Transaction Type has not been selected into the lease account type associated with the lease account being terminated

Calculation Selection - all fields are display only

Field	Explanation
Date Early Terminated	This will default to the Early Termination Date entered at the input selection
Amount	This is the future balance of the lease account It will change to include GST if the Add Taxes flag from the input selection has been checked
Arrears	This is the balance of the current ledger on the lease account
Default Interest Accrued	This is the accrued Default Interest on the current balance to termination date It will change if the termination date if changed
Termination Amount	This is the amount the client will pay on termination of the lease account It is the amount plus Arrears plus Default Interest The Termination Amount will change if either a Write Off or Default Interest Write Off amount is entered as the Write Off Input Selection If either amount is entered as a positive, the Termination Amount will decrease If either amount is entered as a negative, the Termination Amount will increase

Details Specific Function Buttons

[Button]	Explanation
	Select this button to create a communication record that is to be dispatched or printed later
	Select this button to create a communication record that will be sent to the default printer immediately

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