How do I recognize a lease?

Measuring a lease

To recognize a lease, first click into an unrecognized lease and select “get started.” The “calculate lease” pop-up will appear, with pre-populated lease information from Lease Administration:

Step 1: Lease Term

What is the possession date, expiration date and measurement date of the lease?
For leases with Pro Rata, a possession percentage will populate in this window allowing you to review prior to recognizing the lease. 

Step 2: Lease Payments

Which payments are included  with this lease?

Have any periods already been paid? (Prepaid)

Step 3: Incentives

Are there any lease incentives associated with this lease?

Step 4: Costs

What are the total initial direct costs associated with this lease?

Step 5: Deferred Rent

Is there any deferred rent?

Step 6: Discount Rate

What is the discount rate associated with this lease?

Step 7: Classify

What is the lease classification?

Step 8: Comments

Enter any additional information and comments in relation to this lease.

Step 9: Submit

Click Submit on the Bottom Right