A.2.25.2 Account Early Termination
To terminate a lease contract before maturity, you can post the Account Early Termination transaction.
Table A-111 To early terminate lease contract
| Transaction | Parameters |
|---|---|
| ACCOUNT EARLY TERMINATION | TXN DATE (Current or future date) |
| TERMINATE ALLOWED IND (Yes or No) | |
| TERMINATE BILLED TERM (Minimum number of bills to be generated) | |
| MIN AMT RECOVERD PER (Percentage of minimum amount to be recovered (Depreciation + Rent Charge i.e. Lease Receivable Amount + Interest) |
When posting the transaction, if Terminate Allowed Indicator is changed from No to Yes, ensure that the Billed Term and Minimum Amount Recovered Percentage is greater than zero.
On successful posting of the transaction, the Result section indicates the status and other details such as Allowed to Terminate, Billed Term and Lease Amount Recovered.
On posting any of the above transaction successfully, a letter of intimation is generated for correspondence by the scheduled batch LCSTXN_BJ_121_01 (LETTER FOR LEASE NON-MONETARY TXNS) with the updated details.
Parent topic: Lease Early Termination