How to use Automated Lease Contract Termination

Table of Contents

Use Automated Termination to terminate Lease Contracts all at once.

  1. Go to Real Estate Setup and set the parameters related to Automated Termination:
    • Go to System Feature Configuration section and turn on Use Automated Contract Termination, so related actions could be found and fields on the Lease Contract would be visible.
    • Go to General and enter date formula in field Automated Lease Contract Termination Date Formula. This date formula specifies when Lease Contracts has to be automatically terminated after expiry date, e.g. if the Lease Contract Expires on 01/31/2023 and Automated Termination date formula is 3M, the Lease Contract would be terminated on 04/30/2023. If 0D would be entered, Automated Termination would be done on the expiration date of Lease Contract.
  2. To automate Lease Contract Automated Termination set up a recurring Job Queue Entry. For more information, see the How to Manage Job Queues guide.
  3. Go to Lease Contract Card and check if Automated Termination applies.

You can turn on and off on each Lease Contract separately:
Go to Actions, then Functions and click either Disable Automated Termination or Enable Automated Termination, depending on your needs. This action could be done without changing Lease Contract Version.

Note:

Automated Termination would apply automatically to all newly created Lease Contracts.