10 How to use Automated Lease Contract Termination

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. Automated Termination could be committed manually or automatically.

• To do it manually for multiple Lease Contracts at once go to search and find Automatically Terminate Lease Contracts and click OK.

• If Automated Termination has to be committed fully automated, go to ‘ob Queue Entries and create a new one. Click + New and fill in the data:
  • Object Type to Run Report
  • Object ID to Run '17028839'
  • Set Earliest Start Date/Time on your convenience
  • Set the recurrence preferences by days. If a recurrence date has to be set differently, describe it in Next Run Date Formula.
  • Set Starting and Ending Time of the Job.

When all the data is entered and set, click Set Status to Ready.

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.