Equipment monthly lease rent charging rules

During end-of-month processing, the system charges monthly lease rent only to equipment units with the following values in fields on the Data -> Equipment Units -> Fleet Equipment screen:

Ownership and Depreciation tab

• Ownership field - LEASED

• Leased unit/Monthly rent field - Other than zero

• Lease expiration date field – Not earlier than the first day of the month following the month for which end-of-month processing is being executed

Acquisition tab

• In service date field - No greater than the last day of the month for which end-of-month processing is being executed

Replacement and Disposition tab

• Retirement date field - Either no value or a value greater than the last day of the month for the end-of-month processing being executed

The system also ensures that the lease agreement requires payment for the month for which end-of-month processing is being executed. Refer to the Month field in the Payment Info tab on the Data -> Equipment Management -> Lease Agreements screen.