Lease Entry
The main screen of EZLease contains the form to enter all the information on an individual lease needed to properly account for it under the relevant lease accounting standard. In the descriptions below, required means that you cannot leave the field blank; optional means that it is not necessary to fill that field in. A reference to another field is in capital letters. Fields are listed in tab order (the order they are activated if you press Tab to go from one to the next).
Lease Number
Description
Revision
Classification
Discount Rate
Begin Date
End Date
Lease Term (calculated automatically by EZLease)
Effective End
Main data tab
Depreciation Method
Depreciation Life
Economic Life
Annual Land Rent Portion
Monthly/Daily Level Operating Rent
Specified Right-of-use Asset
Right-of-use Asset
Guaranteed Residual
Salvage Value
Rent Steps
Inception tab
Incremental Rate
Implicit Rate
Unguaranteed Residual
Deferred Rent Rollover
Fair Value of Building/Equipment
Fair Value of Land
How Classified
Lease Type
Booking Date
Fair Value Not Determinable
Ownership Transfer
Reasonably Certain Purchase Option
Last 25% of Economic Life
Level Operating Rents
Payments In Advance
Transfer Addition
Term/Options tab
Early Term Type
Early Term Date
Month To Month At Termination
Payoff Amount
Sale At Termination
Options
Descriptive tab
Lessor Name
Lessor Address
Asset Class
Financial Group
User-defined 1, 2, 3, 4
User-defined dates 1, 2
View/Change Attachments
Add/Edit memo
Last Update (calculated automatically by EZLease)
Account Numbers tab
Account Group
Customize
Account number fields
Variable tab
Variable Lease Payments
Notice Dates tab
Notice Dates
Edit checks
Once you have entered all the information and clicked Save Lease, EZLease rechecks to make sure you have not missed any required information, and that no entries are inconsistent with each other (for example, no fair value on a lease that isn’t user-classified). If there are no errors, the lease is classified (if not user-classified), the capital rate and right-of-use asset (if capital) are displayed, and the lease is saved to the database.
Navigation buttons
You may move through the database by pressing any of the navigation buttons at the top center of the screen. The order is defined alphanumerically; numbers precede letters, but numbers are interpreted character by character. Thus, "15" sorts before "2".
Move to first record
Move to previous record
Move to next record
Move to last record
Create a new record
Display list of all lease numbers to select from
Equivalent commands are found on the Navigate menu. If you have made a change to the currently displayed lease, you must save or abandon the changes before moving to a new lease.
You can also type a lease number to display, by selecting the Navigate menu, Search choice. This is particularly useful if you have a large database and don't want to scroll through the entire list of lease numbers.
Other actions
The following lease actions are available from the Lease menu:
Delete a lease
Copy a lease
Undo Last Revision
Classification Report
Rent Escalation
Level Principal Rent
Calculate Rent