Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Since we are dealing with payments, hover over Record Payment and then Change a payment. Since you’ve indicated that this is a material renegotiation, you’ll click on Record payment change with contract renegotiation. This will take you to the Modify Deal workspace.

On Terms tile of the Modify Deal workspace, change the Periodic Payment Frequency to the new frequency.

Adjust the number of payments to coincide with the remaining payments according to the new frequency.

Calculate the new LRF based on the new payment amount for the new frequency and populate the LRF field, tabbing out of it to verify the payment changes correctly.

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.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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. It cannot be the lease start date of the original lease, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

Verify the correct option is selected for Expected Disposition, change as necessary.

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.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Hover over Exercise lease renewal/extension and then Record contractual renewal and then select the appropriate renewal option. This will take you to the Record Asset Event workspace.

Select the assets that you want to renew.

The renewal option from the Asset Event drop-down is pre-selected.

Change Ledger Date to appropriate fiscal month/year.

Change First Day of Renewal Date to appropriate date.

Verify/Enter the correct renewal payment.

Enter any relevant comments related to the renewal option.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Since we are dealing with end of term options, hover over Record contract modification and then Change reasonably certain option. This will take you to the Modify Deal workspace.

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.

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.

In the pop-up, add all needed options.

Check the box for ‘These terms constitute a Clear Economic Incentive and are Reasonably Certain to be exercised.’

Click Submit when all fields have been populated.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Since we are dealing with end of term options, hover over Record contract modification and then Change reasonably certain option. This will take you to the Modify Deal workspace.

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.

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.

In the pop-up, add all needed options.

You must select one option to be Reasonably Certain.

Click Update.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Hover over Exercise lease termination and then Record contractual return. This will take you to the Record Asset Event workspace.

Select the assets that you want to return.

The system will calculate the surviving payment based on the remaining assets, but this field is editable, so you may change it as necessary.

The Return option from the Asset Event drop-down will be pre-selected.

Change Ledger Date to appropriate fiscal month/year.

Change Return Date to appropriate date.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Since we are dealing with end of term options, hover over Record contract modification and then Change reasonably certain option. This will take you to the Modify Deal workspace.

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.

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.

In the pop-up, add all options.

Check the box for ‘These terms constitute a Clear Economic Incentive and are Reasonably Certain to be exercised.’

Click Update.

Click Submit when all fields have been populated.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Hover over Impair an asset. This will take you to the Record Asset Event workspace.

Select a single asset.

Impairment in the Asset Event drop-down will be pre-selected.

Change Ledger Date to appropriate fiscal month/year.

Change Impairment Date to appropriate date. It should be the last day of the fiscal month before the impairment takes effect or the first day of the fiscal month in which you want impairment to take effect.

Enter any relevant comments related to the option.

Enter the impairment amount. The impairment amount must be less than or equal to the net book value of the lease schedule. A red message states the maximum net book value of the asset selected next to the Impairment Amount field.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Since we are dealing with payments, hover over Record Payment and then Change a payment. Since you’ve indicated that this is a material renegotiation, you’ll click on Record payment change with contract renegotiation. This will take you to the Modify Deal workspace.

On the terms tile change the # of Monthly Payments to represent the remaining term as of the date when the new payment amount starts. LeaseAccelerator will calculate remaining term based on the current date, so if you are backdating a modification, you need to adjust the term of the modified deal.

In the LRF, enter the new calculated LRF based on the new payment divided by the new unit price. (LRF = Payment/Total asset(s) price)

Tab out of the LRF field. You will see the payment amount change. It will not be accurate yet since you have not changed the Unit Price yet. That step is done after saving the modification.

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.

Click the plus sign to add a new option.

Select End of Term from the first drop-down.

Select Renewal from the Type drop-down.

Indicate the notice period for this option and populate the at least and not more than fields as necessary. Only the at least field is required.

Indicate the fixed renewal term. In this case the renewal term is 36 months.

Change the Payment Option Amount drop-down from FMV to Fixed Amount.

Enter the payment amount for the renewal.

If this option will now be the Reasonably Certain option, check the box that ‘These terms constitute a Clear Economic Incentive and are Reasonably Certain to be exercised.’

Enter relevant comments or language from the agreement that pertain to this renewal option.

Click Add when all fields have been populated.

All options are removed on the modified deal so if you have other options that are available, you must enter them with the appropriate effective month. You may follow steps 7-16 to add additional options.

Click Submit when all fields have been populated.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

On the Details tile, scroll down to the section for Schedule Details.

Click the edit icon next to the asset line item.

Change the Unit Price field to reflect the new Fair Market Value and tab out of the field.

Click Update.

Go to the Terms tile and verify that the payment amount is accurate using the new LRF that you entered when you modified the deal.

Click the Save button.

In Deal History, on the Next Steps tile, click the Reclassify button.

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Hover over Record contract modification and then Record contract renegotiation. This will take you to the Modify Deal workspace.

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.

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.

Go to the Summary tile and verify all information is accurate.

Verify the Reasonably Certain EOT Option is correct in the After Modification column, change as necessary.

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.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Select the appropriate classification in the Override drop-down.

Input the Override Explanation, this is a required field and should be used to explain that you are overriding to accommodate a change in useful/economic life of the asset. It is suggested you put details about what the new economic life would be.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Since we are dealing with end of term options, hover over Record contract modification and then Change reasonably certain option. This will take you to the Modify Deal workspace.

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.

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.

In the pop-up, add all options.

You must select one option to be Reasonably Certain.

Check the box for ‘These terms constitute a Clear Economic Incentive and are Reasonably Certain to be exercised.’

Click Update.

Click Submit when all fields have been populated.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Hover over Record contract modification and then Record contract renegotiation. This will take you to the Modify Deal workspace.

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.

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.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

Enter the new/updated Estimated Guaranteed Residual Value.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Verify the new Estimated Guaranteed Residual Value is correct; change as necessary.

Click the Book button.

Search for the deal using the Top Search Bar and Deal #.

From the Left NavBar, hover over Record Event. Hover over Record contract modification and then Record reduction in term. This will take you to the Modify Deal workspace.

On the terms tile change the # of Monthly Payments to represent the shortened term as of the modification date.

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.

Go to the Summary tile and verify all information is accurate.

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.

Enter your Reasonably Certain Holding Period in the After Modification column. Please note, this should respect the remaining term for the modified deal.

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, nor can it be a date in the future.

Enter any relevant comments.

Click Record Modification.

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. 

You will be taken to the Accounting Classification workspace.

In the Reclassify Effective drop-down, select the Modification Date and click Refresh Classification.

Select the appropriate classification in the Override drop-down.

Input the Override Explanation. This is a required field and should be used to explain that you are overriding to accommodate a change in term.

Verify all information is correct. You may expand the Analysis by Category and Deal Characteristics sections for more information.

Click Save Account Classification.

Go to Deal History from Left NavBar.

On the Next Steps tile, click the Book button to book the modified deal.

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.

The appropriate ledgers are pre-populated from the original deal and must be used to book the modified deal to maintain the linkage. Please note, the modified deal must be booked to the same ledgers the original deal was booked. When a lease is booked to a different ledger, this must be entered as a brand-new lease, not a modification. 

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.

Verify the correct Expected Holding Period is entered, change as necessary.

Verify the correct IBR is populating. If you would like the system to use the default IBR according to remaining term, country, and Lessee, click Use Default IBR.

Click the Book button.