Error Corrections

While every effort should be made to enter leases into LeaseAccelerator that are completely accurate, we understand that there may be circumstances where mistakes happen. In these circumstances, depending on the type of correction and when the mistake was caught or change needs to occur, there are different methods a user should use when executing these changes. It is particularly important to know if the original lease was entered and the mistake was caught in an open period. There are different best practice methods for error corrections for closed periods versus open periods based upon the type(s) of correction(s) required.

Download a PDF version of the guide.

Open Periods

If all of the following dates are still in open periods, best practice is to delete the deal completely:

Date deal entered
Date deal booked
The as at date for any events recorded (including payment adjustments, mid-term or end-of-term events)

After you’ve followed the steps below to delete the deal, you may re-enter or re-import the same schedule number with corrected information.

Note: If you backdated an event such that the as at date was not in the first open period, you may be unable to delete the deal, and you will need to follow the procedure below for Closed Periods. Best practice is that backdated events and deals should always be recorded in the first open period.

Follow the steps below to delete a deal in an Open period:

Step	Action
1	Search for deal using the Top Search Bar and Deal #.
2	In Deal History, go to History tile.
3	Select Deleted Deal from the Event to Record drop-down.
4	Enter appropriate date if necessary. This will auto-populate to the current date.
5	Add any comments relevant to the event that will appear in the Deal History audit trail.
6	Click Save.

Closed Periods

If the lease in question was booked in a period that is now closed or had any events recorded in closed periods, then you may not delete the deal. If your preference is to remove the deal and re-enter, you must rollback the booking of that deal. Please see the below steps for rolling back a booked deal. Other methods for correcting errors are presented in various scenarios in this document.

Follow the steps below to rollback a deal in a Closed period:

Step	Action
1	Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, go to History tile.
3	Select Rollback booked deal from the Event to Record drop-down.
4	Enter appropriate date if necessary. This will auto-populate to the current date, but best practice is to enter the first day of the first open period, which may not be the current date.
5	Add any comments relevant to the event that will appear in the Deal History audit trail.
6	Click Save.

Caution: Once a deal has been rolled back, that deal CANNOT be booked again!

If you are rolling back a booked deal to make an error correction and you wish to use the same schedule number to re-enter the schedule with correct data, you must renumber the schedule BEFORE you rollback the booking.

Follow the steps below to renumber a lease and all related documents:

Step	Action
1	Search for the deal using the Top Search Bar and Deal #
2	In Deal History, go to Documents tile.
3	Click the kebab (three dots) to the right of the Lease Schedule in the list of documents and select Renumber/Redate.
4	In the Change Document Fundamentals workspace, change the Schedule Number (Recommend adding ROLLBACK to existing Schedule Number for consistency and to identify rolled back deals easily). Note: Remember that special characters including the underscore (_) are not allowed.
5	Input any necessary comments.
6	Click Save and verify that all Schedule Numbers have changed.

Payment Corrections

There may be several different scenarios where payments were entered incorrectly in the original lease and data needs to be updated with correct information. Listed below are some common situations for which payment error corrections are required.

Changing from Fixed Payments to Step Payments

Scenario: Fixed payment schedule entered but payments are variable and should have been a step payment schedule.

Step	Action: Rollback deal and re-enter
1	First change Schedule Number: Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, go to the Documents tile.
3	Click the kebab (three dots) to the right of the Lease Schedule in the list of documents and select Renumber/Redate.
4	In the Change Document Fundamentals workspace, change the Schedule Number (Recommend adding ROLLBACK to existing Schedule Number for consistency and to identify rolled back deals easily). Note: Remember that special characters including the underscore (_) are not allowed.
5	Input any necessary comments.
6	Click Save and verify that all Schedule Numbers have changed.
7	Next Rollback Booking: In Deal History, go to the History tile.
8	Select Rollback booked deal from the Event to Record drop-down.
9	Enter appropriate date if necessary. This will auto-populate to the current date, but best practice is to enter the first day of the first open period, which may not be the current date.
10	Add any comments relevant to the event that will appear in the Deal History audit trail.
11	Click Save.
12	Re-enter or Re-import lease using the original Schedule Number with the corrected payment schedule.

Renewal Payment Correction

Scenario: Entered renewal payment amount wrong when recording the renewal.

Step	Action: Edit EOT Event and save
1	Search for the deal using the Top Search Bar and Deal #.
2	In Deal Summary, go to the Summary tile and find the EOT Renewal event and click the kebab (three dots) to the right and select Edit.
3	Once in the Record Asset Event workspace, edit the renewal payment amount and input correct amount the click Save.
4	From Left NavBar go back to Deal Summary and verify that payment changed by looking at the Summary tile and scrolling down to the Payment Schedule. Renewals are indicated in blue font on the first day of the Renewal period. Note: This will not affect journal entries in closed periods, even if the renewal started or was posted in a closed period. Any adjustments to accounting in closed periods will be netted into a “catch-up” adjusting entry posting in the first open period.

Incorrect Reason Code on Payment Adjustment

Scenario: Recorded a Payment Adjustment using Contingent Rent Resolved instead of Change in Underlying Index Rate.

To determine the correct method to correct this kind of error, you must first identify if there have been any backdated EOT events recorded. See below for two different sets of steps.

To Correct an Error when no other Events have been recorded

Step	Action: Rollback Adjustment and re-record
1	Search for the deal using the Top Search Bar and Deal #.
2	In Deal Summary, go to the Summary tile.
3	Find the Payment Adjustment Event and click the kebab (three dots) and select Rollback.
4	Once the event has been rolled back, you can record the payment adjustment again, with the right reason code.
5	Scroll down on Deal Summary/Summary tile and click the Adjust Payment button.
6	Enter the correct details for the Payment Adjustment, verifying that the date used is an actual payment date.
7	Select the correct reason code and enter any relevant comments.
8	Click Save Payment Adjustment.
9	The deal will be rebooked. When booking is complete, click on Deal Summary from the Left NavBar to reload the page and your Payment Adjustment will be reflected.

To Correct an Error when backdated EOT events have been recorded

Example: Recorded Payment Adjustment 4/1/2019, partial return recorded on 6/1/2019, effective 3/1/2019. In this case, you will need to modify deal effective 4/1/2019 to correct the payment adjustment.

Step	Action: Rollback Adjustment and Modify original deal
1	Search for the deal using the Top Search Bar and Deal #.
2	In Deal Summary Workspace, go to Summary tile.
3	Find the Payment Adjustment Event and click the kebab (three dots) and select Rollback.
4	Once the event has been rolled back, you can Modify the deal to correct the mistake.
5	Hover over Record Event on the Left NavBar. Then hover over Record contract modification and select Record contract renegotiation. You’ll be taken to the Modify Deal workspace.
6	On the Terms tile of the Modify Deal workspace, check the # of Payments field. Regardless of the modifications you are making, the number of payments may need to be adjusted based on your intended date of modification. The remaining term is calculated based on the current date (or system date). It is important to verify this is correct based on your intended date of modification. If the payment anniversary date has passed in the current month, then the remaining term starts with the next payment.
7	Calculate the new LRF based on the correct new payment and populate the LRF field with that number. When you tab out of the field the payment amount should change to the desired amount.
8	Since all original EOT options are removed from the modified deal, all options must be added with an accurate effective month, according to the term of the new modified deal. To do this, click the Mid-Term/EOT button and add the correct options. Remember, enter all options available per the contract, not just the Reasonably Certain option. Note: If you are not changing your reasonably certain EOT option, you may look in the Existing Terms section to see which option was originally reasonably certain.
9	Go to the Summary tile and verify all information is accurate.
10	Verify the Reasonably Certain EOT Option is correct in the After Modification column. This drop-down will now reflect the newly added Reasonably Certain options only. If there are multiple RC options, the system will default to select the option with the latest effective month.
11	Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.
12	Enter the appropriate Date of Modification. This should be the first day of a payment period and will be the new Lease Start Date of the modified deal. This cannot be the lease start date of the original lease.
13	Enter any relevant comments.
14	Click Record Modification.
15	Click Okay on the warning box telling you a new deal will be created and the original deal will remain active until you classify and book the new, modified deal.
16	You will be taken to the Accounting Classification workspace. It is best practice to check the boxes for all of the standards and classify the lease according to all four standards.
17	In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.
18	Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.
19	Click Save Account Classification.
20	Go to Deal History from Left NavBar.
21	On the Next Steps tile, click the Book button to book the modified deal.
22	Verify the correct Ledger Date. The drop-down will include applicable dates based on the Date of Modification and open periods. Please note the Date of Modification cannot be changed once the modification has been saved.
23	Choose the appropriate ledgers to book the modified deal to. Please note, the modified deal must be booked to the same ledgers the original deal was booked. For any circumstances where a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification.
24	Verify the correct option is selected for Expected Disposition. If you were unable to select the correct RC Option in the Modify Deal workspace, you may do so now.
25	Verify the correct Expected Holding Period is entered, change as necessary. Please note, this should populate automatically with the reasonably certain holding period entered in the modification workspace.
26	Click Book.
27	You will be taken to Deal Summary. Once the booking is complete, you should click Deal Summary on the Left NavBar again to refresh/reload the page. Now you should see the ledgers and all relevant information for the modified deal.

Incorrect Step Payment Schedule

Scenario: Step Payment schedule entered incorrectly.

Step	Action: Rollback deal and re-enter
1	First change Schedule Number: Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, go to the Documents tile.
3	Click the kebab (three dots) to the right of the Lease Schedule in the list of documents and select Renumber/Redate.
4	In the Change Document Fundamentals workspace, change the Schedule Number (Recommend adding ROLLBACK to existing Schedule Number for consistency and to identify rolled back deals easily). Note: Remember that special characters including the underscore (_) are not allowed.
5	Input any necessary comments.
6	Click Save and verify that all Schedule Numbers have changed.
7	Next Rollback Booking: In Deal History, go to the History tile.
8	Select Rollback booked deal from the Event to Record drop-down.
9	Enter appropriate date if necessary. This will auto-populate to the current date, but best practice is to enter the first day of the first open period, which may not be the current date.
10	Add any comments relevant to the event that will appear in the Deal History audit trail.
11	Click Save.
12	Re-enter or Re-import lease using the original Schedule Number with the corrected payment schedule.

Lease Attribute Error Corrections

In general, if a lease was entered in an open period and changes/corrections need to be made to deal attributes, you may do so in Deal Summary, saving the deal once all changes have been made. For deals in closed periods, best practice is to rollback the booking and re-enter the deal. Please see below for some specific scenarios.

Incorrect Commencement Date

Scenario: Commencement date entered was incorrect.

Step	Action: Rebook the deal
1	Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, on Next Steps tile, select Book Deal from the Event Type drop-down.
3	Select appropriate Participant role from drop-down. This would be the role of whomever is making the change and rebooking the deal.
4	If there is a specific person that can only make the change, select their name from the Assign To drop-down, otherwise, leave blank and any person with the selected participant role type may rebook the deal.
5	Click Save.
6	Click the Book button.
7	Enter the correct Commencement Date.
8	Verify the correct Ledger Date. This drop-down will include applicable dates based on the Commencement Date and open periods.
9	Verify that the correct ledgers are checked.
10	Verify the correct option is selected for Expected Disposition, change as necessary.
11	Verify the correct Expected Holding Period is entered, change as necessary.
12	Click Book.

Incorrect Term

Scenario: Entered a term of 36 when it should have been 48.

Step	Action: Rollback deal and re-enter
1	First change Schedule Number: Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, go to the Documents tile.
3	Click the kebab (three dots) to the right of the Lease Schedule in the list of documents and select Renumber/Redate.
4	In the Change Document Fundamentals workspace, change the Schedule Number (Recommend adding ROLLBACK to existing Schedule Number for consistency and to identify rolled back deals easily). Note: Remember that special characters including the underscore (_) are not allowed.
5	Input any necessary comments.
6	Click Save and verify that all Schedule Numbers have changed.
7	Next Rollback Booking: In Deal History, go to the History tile.
8	Select Rollback booked deal from the Event to Record drop-down.
9	Enter appropriate date if necessary. This will auto-populate to the current date, but best practice is to enter the first day of the first open period, which may not be the current date.
10	Add any comments relevant to the event that will appear in the Deal History audit trail.
11	Click Save.
12	Re-enter or Re-import lease using the original Schedule Number with the corrected term.

Incorrect Transaction Currency

Scenario: Transaction currency was entered as USD and should have been EUR.

Step	Action: Rollback deal and re-enter
1	First change Schedule Number: Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, go to the Documents tile.
3	Click the kebab (three dots) to the right of the Lease Schedule in the list of documents and select Renumber/Redate.
4	In the Change Document Fundamentals workspace, change the Schedule Number (Recommend adding ROLLBACK to existing Schedule Number for consistency and to identify rolled back deals easily). Note: Remember that special characters including the underscore (_) are not allowed.
5	Input any necessary comments.
6	Click Save and verify that all Schedule Numbers have changed.
7	Next Rollback Booking: In Deal History, go to the History tile.
8	Select Rollback booked deal from the Event to Record drop-down.
9	Enter appropriate date if necessary. This will auto-populate to the current date, but best practice is to enter the first day of the first open period, which may not be the current date.
10	Add any comments relevant to the event that will appear in the Deal History audit trail.
11	Click Save.
12	Re-enter or Re-import lease using the original Schedule Number with the corrected currency.

Incorrect Schedule-Level Participant

Scenario: BU or any other schedule-level participant entered was incorrect.

To Correct an Error in the User Interface

Step	Action: Deal Participants Changes in UI
1	Search for deal using the Top Search Bar and Deal #.
2	Go to Deal Summary from the Left NavBar.
3	Click on the Participants tile.
4	Indicate the appropriate date in Make Changes Effective field. This date must be in an open period and you will receive a warning if you select a date in a closed period. Note: Backdated changes to any Asset Level or Allocation Level attribute on this screen that pre-date a previously recorded change to the same Participant will overwrite those values.
5	Change the participant desired, in this case, the BU or Business Unit.
6	Click on the Summary tile.
7	Scroll to bottom of workspace and click Save.

To Correct an Error using a Bulk Participant Update

Step	Action: Bulk Participant Update
1	Obtain the newest version of the Bulk Participant Update template either from Ask Alex or the Success Center.
2	Populate Deal Number column with all relevant schedule numbers for the leases that need updating/correcting
3	Select Deal Summary in the Document Type drop-down.
4	Populate Document Number with the same schedule number used in Deal Number column.
5	Select the correct Participant Type from the drop-down. In this case, select SBU.
6	If Participant Type is a Company Role Type, enter new Company Name in Company column. If Participant Type is a Person Role Type, enter new Person in Person column. In this case, you should enter the new BU in the Company column.
7	Populate an accurate Effective Date, ensuring the date is in an open period. If left blank, LeaseAccelerator will make changes effective the first open period.
8	No other fields are required for this scenario. Save file.
9	In the user interface, go to Bulk Import from the Left NavBar.
10	Select the Bulk Participant tile.
11	Click the Choose File button and select your saved Bulk Participant Update file.
12	Click Validate.
13	Review and clear any validation messages.
14	When status is Ok for all schedules, click Import to finalize the import.
15	When you receive green dots next to each schedule number, your import was a success. You may click on the blue schedule number hyperlink to navigate to a particular deal and in Deal Summary/Participants tile, you should see the updated Participant.

Incorrect IBR

Scenario: The IBR for the lease was entered incorrectly.

If you want this change in IBR to be retroactive and effective from the lease start date, you can change in Deal Summary/Summary tile. However, if you do not want this change in IBR to be retroactive, you must Modify the deal.

If IBR change is retroactive to Lease Start Date

Step	Action: Deal Attribute Changes in UI
1	Search for the deal using the Top Search Bar and Deal #.
2	Go to Deal Summary from the Left NavBar.
3	Click on the Summary tile.
4	Change the IBR.
5	Scroll to bottom of workspace and click Save. Changes will be effective from lease start date. The deal will be recalculated, and the reporting database refreshed to reflect the change in IBR from Lease Start Date. If there are closed periods, you will see adjusting entries in the first open period.

Incorrect Frequency

Scenario: Payment Frequency was entered as Monthly, and it should have Quarterly for the original lease term.

Step	Action: Rollback deal and re-enter
1	First change the Schedule Number: Search for the deal using the Top Search Bar and Deal #.
2	In Deal History, go to the Documents tile.
3	Click the kebab (three dots) to the right of the Lease Schedule in the list of documents and select Renumber/Redate.
4	In the Change Document Fundamentals workspace, change the Schedule Number (Recommend adding ROLLBACK to existing Schedule Number for consistency and to identify rolled back deals easily). Note: Remember that special characters including the underscore (_) are not allowed.
5	Input any necessary comments.
6	Click Save and verify that all Schedule Numbers have changed.
7	Next Rollback Booking: In Deal History, go to the History tile.
8	Select Rollback booked deal from the Event to Record drop-down.
9	Enter appropriate date if necessary. This will auto-populate to the current date, but best practice is to enter the first day of the first open period, which may not be the current date.
10	Add any comments relevant to the event that will appear in the Deal History audit trail.
11	Click Save.
12	Re-enter or Re-import lease using the original Schedule Number with the corrected frequency.

Incorrect Frequency for Renewal

Scenario: Payment Frequency was entered as Monthly, and it should have been Quarterly for the Renewal Term.

Step	Action: Edit EOT Event and save
1	Search for the deal using the Top Search Bar and Deal #.
2	In Deal Summary, go to the Summary tile.
3	Find the EOT Renewal event and click the kebab (three dots) to the right and select Edit.
4	Once in the Record Asset Event workspace, edit the renewal frequency and select correct one.
5	Click Save.
6	From Left NavBar go back to Deal Summary and verify the frequency changed by looking at the Summary tile and scrolling down to the Payment Schedule. Renewals are indicated in blue font on the first day of the Renewal period. Please note: This will not affect journal entries in closed periods, even if the renewal started or was posted in a closed period. Any adjustments to accounting in closed periods will be netted into a “catch-up” adjusting entry posting in the first open period.

Incorrect Classification

Scenario: A lease was entered with a classification override that has been deemed incorrect.

Step	Action: Reclassify Effective Commencement Date
1	Search for deal using the Top Search Bar and Deal #.
2	In Deal Summary, go to the Details tile.
3	Click the Reclassify button.
4	Select Commencement Date from the Reclassify Effective Drop-down.
5	Click Refresh Classification.
6	Click Save Accounting Classification.
7	If you chose a Reclassify Effective Date in a closed period, you will receive a pop-up telling you the Reclassification will be effective as of the first day of the first open period. This means the true-up journal entries will occur on the first day of the first open period, though they will reflect changes starting from the lease commencement date. Also note if there are closed periods, there will likely be a significant adjusting entry to reverse out all the accounting with the prior (incorrect) classification and then catch up the accounts to the corrected classification. The takedown entry will be the same with either a Cap-Op or Finance classification, and a change in the classification will not cause a change in the takedown entry, however the monthly entries will be different as the expense is straight lined for Cap-Op and the expense declines for Finance. Click Ok.

Asset Attribute Corrections

In general, if changes/corrections need to be made to asset attributes, you may do so in Asset Management, where month-end close is respected and you must stipulate the Effective Date of those changes. Please see below for some specific scenarios.

Incorrect Allocation-Level Participant

Scenario: Project or other allocation attribute entered was incorrect.

Step	Action: Asset Management Changes
1	Search for the deal using the Top Search Bar and Deal #.
2	Once you are in the specified deal, from the Left NavBar, click Asset Management.
3	Once in the Asset Management workspace, on the Details tile, select the asset to which you wish to change an allocation attribute.
4	Scroll down to where you see Change Information for Selected Assets, Effective and a date field. Be sure to populate the date to whenever you want these changes to take place. Also please note that Asset Management respects closed periods, therefore you will receive a warning if you select a date in a closed period. You will need to use the date of the first day of the first open period instead. Note: Backdated changes to any Asset Level or Allocation Level attribute on this screen that pre-date a previously recorded change to the same Participant will overwrite those values.
5	Scroll down further and open the Allocation Attributes section.
6	Click the Edit icon next to the line item that needs correcting.
7	Update relevant attribute (Cost Center, Project, GL Code)
8	Click Update.
9	If there are multiple assets, repeat steps 6-8 for applicable assets.
10	Once all changes have been made, click Save within the Allocation Attribute section.

Incorrect Product Category

Scenario: Product Category entered is incorrect.

For this scenario, the best practice is to rollback and re-enter the lease with the correct Product Category. However, there is an alternative way by using an Asset Detail Import. This utilizes the Details tab only of a PIW and the Asset import tile in the Bulk Import workspace. Please be aware that by doing an Asset Detail Import, you are replacing the existing assets with new assets, so it is critical that all of the original assets are included on the import, even if there are no changes being made to them. It is also important to note that Asset Detail Imports are Effective per the Lease Start Date. The Ledger Date of any changes that have an accounting impact will be the later of either the Lease Start Date or the first day of the first open period. If you have any Related Expenses (e.g. Lease Incentives, IDCs, CAMS, etc.) that are linked to a specific product category, and that product category is no longer representative of the associated assets (e.g. if you are changing the product category on assets from Real Estate to Building, but the Lease Incentive is constrained to Real Estate assets), you will need to rollback the deal and re-enter, since the system can no longer produce logical as at accounting for the periods both before and after the asset bulk import based on the configured Related Expenses.

Step	Action: Asset Detail Import
1	Populate the Details tab of a PIW with all the asset information for the existing assets, even those that have no corrections needed.
2	Click Bulk Import on the Left NavBar in the user interface.
3	Go to the Asset Import tile.
4	Click the Choose File button and select your saved PIW.
5	Click Validate.
6	If you have populated the PIW correctly, you should not have any validation messages but rather Ok as the status. Make sure the box is checked for the schedule.
7	Click Import to finish the importing process.
8	You should receive a red warning advising you to rerun the accounting classification, since the previous classification was based on the old product category.
9	Click the blue hyperlink Schedule Number to be directed to Deal History.
10	Click the Regenerate Accounting Classification button.
11	Select Commencement Date from the Reclassify Effective Drop-down.
12	Click Refresh Classification.
13	Click Save Accounting Classification.
14	If you chose Reclassify Effective Date in a closed period, you will receive a pop-up telling you that the Reclassification will be effective as of the first day of the first open period. Click Ok.

Incorrect GL Code

Scenario: GL Code (coding conventions) entered is incorrect.

Step	Action: Asset Management Changes
1	Search for deal using the Top Search Bar and Deal #.
2	Once you are in the specified deal, from the Left NavBar, click Asset Management.
3	Once in the Asset Management workspace, on the Details tile, select the asset to which you wish to change an allocation attribute.
4	Scroll down to where you see Change Information for Selected Assets, Effective and a date field. Be sure to populate the date to whenever you want these changes to take place. Also please note that Asset Management respects closed periods, therefore you will receive a warning if you select a date in a closed period. You will need to use the date of the first day of the first open period instead. Note: Backdated changes to any Asset Level or Allocation Level attribute on this screen that pre-date a previously recorded change to the same Participant will overwrite those values.
5	Scroll down further and open the Allocation Attributes section.
6	Click the Edit icon next to the line item that needs correcting.
7	Update GL Code
8	Click Update.
9	If there are multiple assets, repeat steps 6-8 for applicable assets.
10	Once all changes have been made, click Save within the Allocation Attribute section.

Incorrect Asset Description

Scenario: Vehicle description was entered incorrectly.

You can update the asset description in the user interface within the Asset Management workspace or you can use an Asset Management Update (AMU) to update the information.

Step	Action: Asset Management Update
1	Download an Asset Management Update (AMU) template from Ask Alex menu or the Success Center.
2	Users may also create their own template as long as it is a Microsoft Excel template with a tab named “Asset Report” and contains the required columns.
3	Populate the Asset ID field with the relevant Asset ID for the asset(s) you wish to update the description.
4	Update the Description field.
5	Save your AMU.
6	In the Asset Management workspace, select the Update tile.
7	Click Choose File and select the updated Asset Management Update file.
8	Click Validate.
9	Correct any errors, if necessary.
10	Click Import.
11	To view the changes in the UI when the import is complete, click the Criteria tile in the Asset Management workspace and then click Search to refresh the Details tile.

Incorrect Asset Reference Number

Scenario: License Plate was entered incorrectly.

Changing this information depends on which field was used to capture the data. Typically, one of the asset attribute fields for Serial Number, Reference Number, or Asset Tag would be used. Those may be updated in Asset Management within the user interface. When changing Operational Attributes, the changes will be effective the Lease Start Date.

Step	Action: Asset Management Changes
1	Search for deal using the Top Search Bar and Deal #.
2	Once you are in the specified deal, from the Left NavBar, click Asset Management.
3	Once in the Asset Management workspace, on the Details tile, select the asset to which you wish to change an operational attribute.
4	Scroll down and open the Operational Attributes section.
5	Update the appropriate field.
6	Once all changes have been made, click Save within the Operational Attributes section.

Incorrect Asset User

Scenario: Incorrect driver was entered as Asset User.

Step	Action: Asset Management Changes
1	Search for the deal using the Top Search Bar and Deal #.
2	Once you are in the specified deal, from the Left NavBar, click Asset Management.
3	Once in the Asset Management workspace, on the Details tile, select the asset to which you wish to change an asset attribute.
4	Scroll down to where you see Change Information for Selected Assets, Effective and a date field. Be sure to populate the date to whenever you want these changes to take place. Also please note that Asset Management respects closed periods, therefore you will receive a warning if you select a date in a closed period. You will need to use the date of the first day of the first open period instead. Note: Backdated changes to any Asset Level or Allocation Level attribute on this screen that pre-date a previously recorded change to the same Participant will overwrite those values.
5	Scroll down further and open the Asset Attributes section.
6	Update the Asset User field.
7	Once all changes have been made, click Save within the Asset Attributes section.