Equipment monthly lease rent charging rules |
During end-of-month processing, the system charges monthly lease rent only to equipment units with the following values in fields on the Data -> Equipment Units -> Fleet Equipment screen:
Ownership and Depreciation tab
Ownership field - LEASED
Leased unit/Monthly rent field - Other than zero
Lease expiration date field – Not earlier than the first day of the month following the month for which end-of-month processing is being executed
Acquisition tab
In service date field - No greater than the last day of the month for which end-of-month processing is being executed
Replacement and Disposition tab
Retirement date field - Either no value or a value greater than the last day of the month for the end-of-month processing being executed
The system also ensures that the lease agreement requires payment for the month for which end-of-month processing is being executed. Refer to the Month field in the Payment Info tab on the Data -> Equipment Management -> Lease Agreements screen.