To create a new lease in Soft4Lessee, navigate to the  New Leases section and select New in the Lease Agreement List page, or press New → New Lease Agreement directly from the Role Center.

A blank Lease Card will open. The system will automatically assign a unique ID to the Lease No. field, or you can enter one manually.

Default values

Upon opening a new Lease Card, you can configure some fields to be filled by default. This can be configured in the Lease Setup page, under the Default Values tab.

 

Fill the rest of the needed data fields on the Lease Card. You can read more about Lease Card fields here.

After filling all the fields required, review the Payment Schedule of the lease and solve any schedule discrepancies. For more information on the Payment Schedule, head here.

Updating projections

Liability and RoU projections update automatically, however, if you are using migration data fields, indexes, or structured schedule for the lease, don't forget to recalculate the Liability and RoU projections manually by pressing Actions → Recalculate.

 

Review the Liability and RoU projections by navigating to Projection → Lease Liability Projection and Projection → Right-of-use Asset Projection from the Lease Card.

Once the lease is completely configured, shift the lease status to Signed. This can be done by navigating to Actions → Signed. No G/L postings will be made by using this action.

After the lease is signed, it needs to be activated. To activate the lease, navigate to Actions → Activate. The system will post G/L entries at the Commencement Date of the lease.
 

After the lease is activated, it will move from the New Leases section to the Active Leases section. You can view Active Leases by selecting the Active Leases box on the Role Center.